Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 13.8% | 13.4% | 10.8% | 9.4% | 11.7% | 11.7% | 14.9% | 17.4% |
| EBITDA margin % | 4.9% | 5.5% | 4.7% | 3.7% | 5.2% | 4.9% | 4.6% | 5.4% |
| EBIT margin % | 4.1% | 4.6% | 4% | 3% | 4.3% | 3.9% | 3.3% | 3.6% |
| PAT margin % | 2.2% | 3% | 2.7% | 2% | 3% | 2.9% | 10.5% | 19.3% |
| Working capital | ||||||||
| Receivable days | 63 | 43 | 65 | 41 | 49 | 52 | 41 | 52 |
| Inventory days | 50 | 42 | 40 | 35 | 26 | 25 | 31 | 54 |
| Payable days | 92 | 82 | 103 | 71 | 71 | 69 | 61 | 70 |
| NWC days | 21 | 2 | 2 | 5 | 3 | 7 | 11 | 35 |
| Leverage | ||||||||
| Current ratio | 1.17 | 1.24 | 1.22 | 1.29 | 1.18 | 1.11 | 1.05 | 1.37 |
| Debt to EBITDA | 1.08 | 0.36 | 0.49 | 0.88 | 0.23 | 0.33 | 0.72 | 0.82 |
| Debt to equity | 0.37 | 0.14 | 0.19 | 0.27 | 0.07 | 0.08 | 0.08 | 0.05 |
| Interest coverage | 4.5 | 5.1 | 9 | 7.6 | 8.9 | 7 | 4.6 | 17.4 |
| Asset turnover | 2.29 | 2.58 | 2.35 | 2.75 | 2.56 | 2.26 | 1.55 | 0.91 |
| Return ratios | ||||||||
| Return on assets % | 5.1% | 7.8% | 6.3% | 5.5% | 7.7% | 6.6% | 16.3% | 17.6% |
| Return on capital employed % | 30.8% | 35.3% | 31.1% | 21.8% | 24.1% | 19.1% | 12% | 32.1% |
| Return on equity % | 15.7% | 21.5% | 21.6% | 16.4% | 18.1% | 13.3% | 25.9% | 23.4% |
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.