Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 31% | 32.1% | 32% | 31.3% | 31% | 30.9% | 32.3% | 30.8% |
| EBITDA margin % | 13.1% | 13.2% | 14.8% | 14.2% | 11.6% | 10.8% | 11.7% | 10.4% |
| EBIT margin % | 12.8% | 12.6% | 14.2% | 13.4% | 10.6% | 9.8% | 10.5% | 9% |
| PAT margin % | 9% | 11% | 12.7% | 11.1% | 8.2% | 7.3% | 8% | -3.4% |
| Working capital | ||||||||
| Receivable days | 46 | — | 35 | 35 | 33 | 33 | 31 | 52 |
| Inventory days | 42 | — | 59 | 51 | 56 | 58 | 59 | 44 |
| Payable days | — | — | 89 | 85 | 81 | 97 | 102 | 129 |
| NWC days | — | — | 4 | 0 | 8 | -6 | -11 | -33 |
| Leverage | ||||||||
| Current ratio | 1.42 | — | 2.11 | 1 | 1.25 | 1.27 | 1.27 | 1.36 |
| Debt to EBITDA | 0.6 | — | 0.68 | 2.04 | 1.37 | 0.87 | 0.37 | 0 |
| Debt to equity | 0.32 | — | 0.25 | 0.63 | 0.32 | 0.19 | 0.08 | 0 |
| Interest coverage | 10.4 | 15.5 | 17.5 | 22.6 | 6.7 | 9.4 | 18.7 | 16.7 |
| Asset turnover | 1.68 | — | 1.34 | 1.01 | 1.13 | 1.15 | 1.18 | 1.27 |
| Return ratios | ||||||||
| Return on assets % | 15.1% | — | 17.1% | 11.1% | 9.2% | 8.4% | 9.5% | -4.3% |
| Return on capital employed % | 42.5% | — | 31.9% | 32.2% | 22.2% | 18.5% | 20.8% | 19% |
| Return on equity % | 36.6% | — | 31.5% | 24.2% | 16.8% | 14.6% | 15.6% | -7.7% |
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.