Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 65.8% | 71.2% | 66.4% | 64.4% | 61.4% | 64.2% | 67.1% |
| EBITDA margin % | 11.3% | 12.2% | 9.3% | 9.3% | 9% | 9.9% | 9.6% | 10.2% |
| EBIT margin % | 8.1% | 8.5% | 5.5% | 6.3% | 6.7% | 7.2% | 7.5% | 8.5% |
| PAT margin % | 3.1% | 2% | 0.7% | 2.1% | 2.7% | 3.6% | 4.2% | 6% |
| Working capital | ||||||||
| Receivable days | 70 | 78 | 80 | 67 | 81 | 57 | 64 | 45 |
| Inventory days | 36 | 98 | 156 | 117 | 125 | 86 | 73 | 83 |
| Payable days | 100 | 1 | 309 | 244 | 265 | 197 | 200 | 240 |
| NWC days | 6 | 175 | -73 | -60 | -59 | -55 | -64 | -111 |
| Leverage | ||||||||
| Current ratio | 1.54 | 1.03 | 1.05 | 1.05 | 1 | 1.06 | 1.13 | 1.25 |
| Debt to EBITDA | 1.05 | 1.07 | 1.94 | 1.71 | 1.72 | 1.15 | 1.08 | 0.85 |
| Debt to equity | 0.21 | 0.27 | 0.37 | 0.46 | 0.59 | 0.58 | 0.51 | 0.36 |
| Interest coverage | 2.8 | 2 | 1.2 | 1.6 | 2.1 | 2.7 | 3.2 | 4.8 |
| Asset turnover | 0.88 | 0.81 | 0.77 | 0.97 | 0.96 | 1.3 | 1.39 | 1.43 |
| Return ratios | ||||||||
| Return on assets % | 2.7% | 1.6% | 0.6% | 2.1% | 2.5% | 4.7% | 5.8% | 8.5% |
| Return on capital employed % | 19.1% | 16.7% | 11% | 17.1% | 24.4% | 37.3% | 38.9% | 44.7% |
| Return on equity % | 5.4% | 4.1% | 1.5% | 6.1% | 10% | 18.3% | 20.3% | 24.8% |
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.