Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 39.4% | 41.5% | 43.9% | 35.4% | ||||
| 34.7% |
| 42% |
| 37.8% |
| 39.4% |
| EBITDA margin % | 9.3% | 10.7% | 12.9% | 7.5% | 8.7% | 13.9% | 11.3% | 13.4% |
| EBIT margin % | 6.8% | 6.8% | 8.4% | 2.9% | 4.5% | 9.6% | 7% | 9.1% |
| PAT margin % | 4.2% | 4.1% | 5.5% | 0.6% | 1.8% | 5.5% | 3.7% | 5.3% |
| Working capital | ||||||||
| Receivable days | — | — | 44 | 45 | 42 | 39 | 46 | 42 |
| Inventory days | — | — | 96 | 78 | 56 | 60 | 63 | 66 |
| Payable days | — | — | 158 | 131 | 113 | 123 | 122 | 132 |
| NWC days | — | — | -18 | -8 | -15 | -24 | -13 | -25 |
| Leverage | ||||||||
| Current ratio | — | — | 0.73 | 0.71 | 0.64 | 0.61 | 0.65 | 0.65 |
| Debt to EBITDA | — | — | 1.43 | 2.95 | 2.11 | 0.96 | 1.3 | 1.46 |
| Debt to equity | — | — | 0.44 | 0.66 | 0.62 | 0.4 | 0.45 | 0.59 |
| Interest coverage | 8 | 4 | 3.8 | 1.4 | 2.3 | 4.4 | 3.5 | 4.2 |
| Asset turnover | — | — | 0.96 | 1.04 | 1.19 | 1.21 | 1.19 | 1.11 |
| Return ratios | ||||||||
| Return on assets % | — | — | 5.2% | 0.6% | 2.2% | 6.7% | 4.3% | 5.9% |
| Return on capital employed % | — | — | 13.6% | 5.7% | 10.2% | 21.5% | 16.7% | 22.7% |
| Return on equity % | — | — | 13.1% | 1.7% | 6.2% | 16.6% | 11.2% | 16% |
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.