Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 57.9% | 53.7% | 57.1% | 54.5% | 45.6% | 53.7% | 53.5% | 52.8% |
| EBITDA margin % | 13.2% | 10.8% | 13.3% | 16.1% | 7.1% | 9.9% | 10.4% | 10.8% |
| EBIT margin % | 12.1% | 9.3% | 11.8% | 14.8% | 5.8% | 8.5% | 8.2% | 8.6% |
| PAT margin % | 7.3% | 6.1% | 8.4% | 10.8% | 4.2% | 5.8% | 5.4% | 5.7% |
| Working capital | ||||||||
| Receivable days | — | 136 | 116 | 109 | 112 | 113 | 117 | 119 |
| Inventory days | — | 248 | 274 | 282 | 170 | 238 | 238 | 199 |
| Payable days | — | 98 | 114 | 105 | 66 | 90 | 95 | 92 |
| NWC days | — | 286 | 276 | 286 | 216 | 260 | 261 | 226 |
| Leverage | ||||||||
| Current ratio | — | 2.05 | 2.48 | 2.2 | 2.47 | 2.12 | 2.16 | 2.38 |
| Debt to EBITDA | — | 1.99 | 0.9 | 0.95 | 1.64 | 1.86 | 1.69 | 1.26 |
| Debt to equity | — | 0.45 | 0.23 | 0.3 | 0.23 | 0.36 | 0.34 | 0.26 |
| Interest coverage | 8.1 | 6.2 | 14.3 | 21.5 | 6 | 7.6 | 5.5 | 7.4 |
| Asset turnover | — | 1.18 | 1.23 | 1.21 | 1.29 | 1.17 | 1.17 | 1.23 |
| Return ratios | ||||||||
| Return on assets % | — | 7.2% | 10.3% | 13.1% | 5.4% | 6.7% | 6.3% | 7% |
| Return on capital employed % | — | 20% | 24.6% | 33.4% | 12% | 17.3% | 16.3% | 16.9% |
| Return on equity % | — | 12.8% | 16.1% | 21.6% | 8.1% | 11.3% | 10.4% | 11.1% |
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.