Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 29.3% | 31% | 31.8% | 25.6% | 20.7% | 25.3% | 25.9% | 23.6% |
| EBITDA margin % | 10.9% | 13.2% | 14.1% | 10.7% | 9.9% | 10.9% | 11% | 10.2% |
| EBIT margin % | 10% | 12% | 12.9% | 9.8% | 9.2% | 9.9% | 9.9% | 9.2% |
| PAT margin % | 5.4% | 8.1% | 9.3% | 7.4% | 6.9% | 7.8% | 8.1% | 6.6% |
| Working capital | ||||||||
| Receivable days | 50 | — | 14 | 5 | 7 | 23 | 19 | 19 |
| Inventory days | 127 | — | 98 | 94 | 69 | 101 | 96 | 107 |
| Payable days | 0 | — | 110 | 101 | 83 | 119 | 122 | 54 |
| NWC days | 177 | — | 2 | -2 | -7 | 6 | -8 | 72 |
| Leverage | ||||||||
| Current ratio | 1.24 | — | 1.96 | 1.85 | 1.77 | 2.1 | 1.96 | 1.58 |
| Debt to EBITDA | 2.06 | — | 0 | 0 | 0 | 0 | 0 | 0.07 |
| Debt to equity | 0.88 | — | 0 | 0 | 0 | 0 | 0 | 0.02 |
| Interest coverage | 5.4 | 6.8 | 17.7 | 26.6 | 15.4 | 13.3 | 10.6 | 11 |
| Asset turnover | 1.25 | — | 1.58 | 1.7 | 2.09 | 1.4 | 1.32 | 1.36 |
| Return ratios | ||||||||
| Return on assets % | 6.8% | — | 14.7% | 12.6% | 14.3% | 11% | 10.6% | 8.9% |
| Return on capital employed % | 41.6% | — | 33.1% | 32.3% | 38.6% | 26.9% | 25.5% | 25.5% |
| Return on equity % | 21.3% | — | 25.2% | 22.4% | 25.9% | 18.3% | 17.6% | 16.1% |
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.