Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 51.6% | 55.6% | 57.8% | 56.7% | 59.2% | 58.5% | 56.4% |
| EBITDA margin % | 13.9% | 14.9% | 19.9% | 20.3% | 19.4% | 21.5% | 17.8% | 21.5% |
| EBIT margin % | 10% | 9.8% | 15.2% | 16% | 12.6% | 14.5% | 11.4% | 15.7% |
| PAT margin % | 5.9% | 6% | 10.7% | 13.3% | 7.6% | 9.8% | 8.8% | 12.6% |
| Working capital | ||||||||
| Receivable days | — | 87 | 89 | 77 | 60 | 82 | 76 | 70 |
| Inventory days | — | 148 | 129 | 169 | 187 | 209 | 225 | 197 |
| Payable days | — | 71 | 103 | 136 | 74 | 100 | 80 | 71 |
| NWC days | — | 164 | 115 | 111 | 172 | 191 | 221 | 196 |
| Leverage | ||||||||
| Current ratio | — | 1.26 | 1.22 | 1.2 | 1.2 | 1.14 | 1.61 | 1.81 |
| Debt to EBITDA | — | 2.41 | 1.74 | 1.43 | 1.84 | 1.71 | 1.66 | 1.04 |
| Debt to equity | — | 0.59 | 0.57 | 0.56 | 0.53 | 0.53 | 0.3 | 0.24 |
| Interest coverage | 3.8 | 3.3 | 7.1 | 8.8 | 4.3 | 5.1 | 5.1 | 9.3 |
| Asset turnover | — | 0.81 | 0.77 | 0.85 | 0.75 | 0.72 | 0.65 | 0.78 |
| Return ratios | ||||||||
| Return on assets % | — | 4.8% | 8.3% | 11.3% | 5.7% | 7.1% | 5.7% | 9.8% |
| Return on capital employed % | — | 17.8% | 27.9% | 36% | 17% | 21.9% | 16.8% | 20.9% |
| Return on equity % | — | 9.8% | 17.6% | 25.7% | 11.4% | 14.2% | 9% | 13.7% |
Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.