Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 34.8% | 38.2% | 41.4% | 36.7% | ||||
| 33.2% |
| 34.2% |
| 33.7% |
| 39.5% |
| EBITDA margin % | 8.4% | 6.6% | 9.7% | 12.6% | 6.9% | 4.8% | 5.7% | 8.7% |
| EBIT margin % | 5.9% | 3.4% | 6.3% | 10.7% | 4.9% | 1.9% | 3% | 5.4% |
| PAT margin % | 4.3% | 6.7% | 5.8% | 8.8% | 4.4% | 2.6% | 3.4% | 6% |
| Working capital | ||||||||
| Receivable days | — | — | 69 | 42 | 38 | 41 | 32 | 42 |
| Inventory days | — | — | 97 | 85 | 64 | 86 | 87 | 92 |
| Payable days | — | — | 65 | 33 | 28 | 41 | 48 | 61 |
| NWC days | — | — | 102 | 93 | 74 | 86 | 71 | 73 |
| Leverage | ||||||||
| Current ratio | — | — | 5.51 | 5.33 | 5.43 | 4.57 | 4.06 | 4.23 |
| Debt to EBITDA | — | — | 0.07 | 0.04 | 0.45 | 0.59 | 0.3 | 0.13 |
| Debt to equity | — | — | 0.01 | 0.01 | 0.05 | 0.04 | 0.02 | 0.01 |
| Interest coverage | 36.7 | 25.8 | 65.5 | 197.8 | 51.1 | 12.3 | 21.4 | 46.5 |
| Asset turnover | — | — | 0.91 | 1.38 | 1.28 | 1.03 | 1.12 | 0.92 |
| Return ratios | ||||||||
| Return on assets % | — | — | 5.3% | 12.1% | 5.6% | 2.7% | 3.8% | 5.5% |
| Return on capital employed % | — | — | 8.5% | 19.3% | 8.5% | 4.4% | 6.3% | 8.4% |
| Return on equity % | — | — | 6.5% | 14.7% | 6.8% | 3.4% | 4.7% | 6.8% |
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.