Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 74.6% | 49.7% | 49.9% | 49.3% | ||||
| 46.4% |
| 45.3% |
| 42.9% |
| 44% |
| EBITDA margin % | 13.3% | 13.3% | 15.9% | 17.8% | 14.8% | 13.1% | 11.6% | 11.2% |
| EBIT margin % | 11.1% | 10.4% | 12.9% | 15.6% | 12.8% | 11% | 9.5% | 8.5% |
| PAT margin % | 7% | 6.9% | 9.1% | 10.8% | 10.1% | 8.4% | 7% | 6% |
| Working capital | ||||||||
| Receivable days | — | — | 51 | 42 | 39 | 38 | 39 | 41 |
| Inventory days | — | — | 114 | 117 | 95 | 106 | 121 | 113 |
| Payable days | — | — | 74 | 61 | 53 | 49 | 42 | 51 |
| NWC days | — | — | 91 | 99 | 80 | 96 | 118 | 103 |
| Leverage | ||||||||
| Current ratio | — | — | 1.87 | 1.92 | 1.95 | 1.95 | 1.7 | 1.38 |
| Debt to EBITDA | — | — | 0.37 | 0.37 | 0.49 | 0.77 | 1.55 | 1.62 |
| Debt to equity | — | — | 0.1 | 0.13 | 0.14 | 0.17 | 0.3 | 0.31 |
| Interest coverage | 5.8 | 6.6 | 26.3 | 51 | 33.2 | 17.9 | 12 | 7.6 |
| Asset turnover | — | — | 1.18 | 1.36 | 1.37 | 1.24 | 1.11 | 1.12 |
| Return ratios | ||||||||
| Return on assets % | — | — | 10.7% | 14.7% | 13.9% | 10.4% | 7.8% | 6.7% |
| Return on capital employed % | — | — | 21.6% | 33.6% | 28.7% | 21.7% | 18% | 15.8% |
| Return on equity % | — | — | 15.2% | 20.8% | 19.3% | 14.4% | 11.7% | 10.3% |
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.