Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 52.1% | 50.4% | 45.2% | 55.1% | 53.4% | 49.4% | 50.6% | 51% |
| EBITDA margin % | 17.8% | 15.6% | 13.9% | 18.2% | 13.4% | 8.6% | 10.2% | 10.4% |
| EBIT margin % | 15.8% | 12.8% | 11.1% | 15.8% | 11.3% | 5.9% | 7% | 7% |
| PAT margin % | 11.8% | 9.7% | 8.1% | 10.8% | 8.1% | 3.8% | 4.6% | 6.1% |
| Working capital | ||||||||
| Receivable days | — | — | 22 | 32 | 24 | 19 | 25 | 26 |
| Inventory days | — | — | 143 | 189 | 155 | 169 | 162 | 159 |
| Payable days | — | — | 54 | 76 | 63 | 64 | 68 | 62 |
| NWC days | — | — | 111 | 145 | 116 | 124 | 119 | 123 |
| Leverage | ||||||||
| Current ratio | — | — | 2.31 | 2.24 | 1.81 | 1.58 | 1.53 | 1.44 |
| Debt to EBITDA | — | — | 1.28 | 0.85 | 1.03 | 2.17 | 1.89 | 1.93 |
| Debt to equity | — | — | 0.31 | 0.27 | 0.26 | 0.32 | 0.34 | 0.36 |
| Interest coverage | 11 | 6.8 | 8.2 | 19.1 | 28.6 | 8.7 | 6.7 | 6.7 |
| Asset turnover | — | — | 1.06 | 1.04 | 1.1 | 0.97 | 0.98 | 0.99 |
| Return ratios | ||||||||
| Return on assets % | — | — | 8.5% | 11.3% | 9% | 3.7% | 4.5% | 6% |
| Return on capital employed % | — | — | 16.5% | 24.9% | 19.8% | 8.9% | 11% | 11.7% |
| Return on equity % | — | — | 14.1% | 19% | 15.3% | 6.5% | 8.1% | 10.9% |
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.