Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 42.1% | 42.5% | 41.1% | 39.7% | 34.8% | 36.9% | 43.3% |
| EBITDA margin % | 16.9% | 18.3% | 17% | 15.3% | 14.8% | 8.9% | 13.6% | 19.8% |
| EBIT margin % | 11.3% | 12.6% | 10.3% | 8.9% | 8.7% | 0.5% | 6.4% | 12.9% |
| PAT margin % | 12.1% | 11.7% | 11.8% | 11.2% | 10.4% | 9% | 8.4% | 8.8% |
| Working capital | ||||||||
| Receivable days | — | — | 74 | 52 | 49 | 52 | 53 | 53 |
| Inventory days | — | — | 35 | 37 | 38 | 33 | 24 | 26 |
| Payable days | — | — | 72 | 47 | 55 | 72 | 107 | 221 |
| NWC days | — | — | 37 | 41 | 32 | 13 | -30 | -143 |
| Leverage | ||||||||
| Current ratio | — | — | 0.64 | 0.63 | 0.52 | 0.62 | 0.47 | 0.39 |
| Debt to EBITDA | — | — | 6.19 | 7.47 | 7.16 | 12.43 | 8.94 | 5.71 |
| Debt to equity | — | — | 0.73 | 0.84 | 0.85 | 0.96 | 1.18 | 1.13 |
| Interest coverage | 2.2 | 3.1 | 2.7 | 3.1 | 2.8 | 2.2 | 2.2 | 2.3 |
| Asset turnover | — | — | 0.25 | 0.26 | 0.28 | 0.3 | 0.32 | 0.31 |
| Return ratios | ||||||||
| Return on assets % | — | — | 2.9% | 2.9% | 2.9% | 2.7% | 2.6% | 2.7% |
| Return on capital employed % | — | — | 5.9% | 6.8% | 7.2% | 7.2% | 8.3% | 8.8% |
| Return on equity % | — | — | 8.2% | 8.2% | 8.3% | 7.8% | 8.1% | 8.8% |
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.