Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 40.4% | — | 48.6% | 40.3% | 41.5% | 42.5% | 45.3% | 47.2% |
| EBITDA margin % | 12.4% | 12.5% | 12.2% | 9.5% | 7% | 8.1% | 8.8% | 11.7% |
| EBIT margin % | 9.4% | 8.8% | 8.7% | 6.9% | 4.1% | 4.7% | 6.5% | 9.2% |
| PAT margin % | 5.5% | 6% | 5.7% | 5.7% | 2.8% | 2.5% | 4.1% | 7% |
| Working capital | ||||||||
| Receivable days | 41 | 0 | 36 | 40 | 35 | 53 | 46 | 62 |
| Inventory days | 61 | 0 | 183 | 106 | 119 | 149 | 155 | 141 |
| Payable days | 30 | 0 | 36 | 28 | 30 | 28 | 36 | 38 |
| NWC days | 72 | 0 | 183 | 118 | 123 | 174 | 166 | 165 |
| Leverage | ||||||||
| Current ratio | 1.26 | — | 1.39 | 1.77 | 1.95 | 1.42 | 1.51 | 1.31 |
| Debt to EBITDA | 1.48 | 0 | 2.98 | 2.39 | 3.19 | 4.24 | 3.07 | 2.46 |
| Debt to equity | 0.79 | 0 | 0.99 | 0.69 | 0.54 | 0.77 | 0.63 | 0.63 |
| Interest coverage | 3.7 | 4.4 | 4.6 | 4.6 | 2.8 | 2.5 | 3 | 4.7 |
| Asset turnover | 1.83 | 530.47 | 1.14 | 1.54 | 1.36 | 1.11 | 1.21 | 1.15 |
| Return ratios | ||||||||
| Return on assets % | 10% | 3,172.2% | 6.5% | 8.7% | 3.8% | 2.8% | 4.9% | 8.1% |
| Return on capital employed % | 31.1% | 56.2% | 32.9% | 21.4% | 10% | 10.3% | 15.5% | 21% |
| Return on equity % | 23.6% | 96.6% | 15.3% | 17.2% | 6.7% | 5.7% | 9.5% | 15.5% |
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.