Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 33% | 35.3% | 32.7% | 41% | 40.6% | 26.1% |
| EBITDA margin % | 6.9% | 7.5% | 7.9% | 6.7% | 6.1% | 10.8% | 9.7% | 8.6% |
| EBIT margin % | 5.7% | 7.5% | 6.3% | 5.2% | 4.5% | 8.9% | 7.8% | 7.1% |
| PAT margin % | 4.4% | 5.4% | 3.4% | 3.1% | 2.6% | 5.5% | 4.9% | 3.6% |
| Working capital | ||||||||
| Receivable days | — | 38 | 37 | 44 | 38 | 48 | 43 | 12 |
| Inventory days | — | 146 | 185 | 168 | 147 | 220 | 236 | 242 |
| Payable days | — | 60 | 96 | 71 | 63 | 94 | 89 | 60 |
| NWC days | — | 123 | 126 | 141 | 121 | 174 | 190 | 194 |
| Leverage | ||||||||
| Current ratio | — | 1.3 | 1.25 | 1.23 | 1.18 | 1.21 | 1.27 | 1.12 |
| Debt to EBITDA | — | 3.93 | 3.19 | 3.81 | 3.45 | 2.28 | 2.56 | 4.23 |
| Debt to equity | — | 0.98 | 0.81 | 0.83 | 0.7 | 0.64 | 0.58 | 1.16 |
| Interest coverage | 4.8 | 3.5 | 3.5 | 3.3 | 3.7 | 5.8 | 5.4 | 3.6 |
| Asset turnover | — | 1.13 | 1.17 | 1.21 | 1.22 | 0.96 | 0.9 | 0.82 |
| Return ratios | ||||||||
| Return on assets % | — | 6% | 4% | 3.7% | 3.1% | 5.3% | 4.4% | 2.9% |
| Return on capital employed % | — | 20.5% | 18.1% | 16.3% | 14.1% | 21.9% | 18.3% | 11% |
| Return on equity % | — | 17.7% | 11% | 10% | 8.6% | 14.4% | 11.4% | 11.4% |
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.