Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 24.1% | 26.4% | 22.8% | 18.9% | 21.6% | 19.2% | 14.9% |
| EBITDA margin % | 13.4% | 12.3% | 14.9% | 13.2% | 9.4% | 12.6% | 9.5% | 7% |
| EBIT margin % | 10.1% | 7.2% | 8.5% | 8.4% | 5.9% | 6.9% | 4.2% | 3.5% |
| PAT margin % | 6.8% | 5% | 5.9% | 6.3% | 4% | 3.7% | 2.6% | 1.9% |
| Working capital | ||||||||
| Receivable days | — | — | 29 | 15 | 14 | 18 | 28 | 25 |
| Inventory days | — | — | 38 | 23 | 43 | 21 | 24 | 9 |
| Payable days | — | — | 3 | 6 | 23 | 11 | 7 | 8 |
| NWC days | — | — | 63 | 32 | 34 | 29 | 46 | 27 |
| Leverage | ||||||||
| Current ratio | — | — | 4.04 | 3.45 | 2.77 | 1.81 | 1.81 | 1.81 |
| Debt to EBITDA | — | — | 0.41 | 0.32 | 2.75 | 0.97 | 1.2 | 0.81 |
| Debt to equity | — | — | 0.09 | 0.09 | 0.75 | 0.29 | 0.29 | 0.2 |
| Interest coverage | 11.2 | 8.4 | 9.8 | 17.7 | 8.4 | 3 | 2.5 | 2.5 |
| Asset turnover | — | — | 1.11 | 1.56 | 1.34 | 1.36 | 1.48 | 2.09 |
| Return ratios | ||||||||
| Return on assets % | — | — | 6.5% | 9.8% | 5.4% | 5% | 3.8% | 4% |
| Return on capital employed % | — | — | 10.3% | 16.1% | 12.2% | 14.4% | 11.8% | 12.8% |
| Return on equity % | — | — | 8.9% | 13.7% | 11.7% | 8.8% | 6.4% | 6.7% |
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.