Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 43.2% | 45.4% | 45.4% | 47.8% | 47.5% | 49.7% | 48.4% | 48.9% |
| EBITDA margin % | 17.8% | 19.9% | 21.1% | 17% | 9.7% | 11.3% | 13% | 13.9% |
| EBIT margin % | 15.8% | 18% | 19.5% | 12.5% | 4% | 5.4% | 8.6% | 9.5% |
| PAT margin % | 10.8% | 13.2% | 13.9% | 5.7% | -1.2% | 1.4% | 4.1% | 5.4% |
| Working capital | ||||||||
| Receivable days | — | — | 73 | 68 | 63 | 71 | 64 | 72 |
| Inventory days | — | — | 118 | 144 | 153 | 168 | 158 | 154 |
| Payable days | — | — | 78 | 135 | 146 | 171 | 146 | 123 |
| NWC days | — | — | 113 | 77 | 70 | 68 | 76 | 103 |
| Leverage | ||||||||
| Current ratio | — | — | 1.19 | 0.99 | 0.87 | 0.88 | 0.94 | 1.14 |
| Debt to EBITDA | — | — | 3.52 | 4.07 | 5.18 | 3.59 | 2 | 1.38 |
| Debt to equity | — | — | 0.98 | 1.02 | 0.82 | 0.57 | 0.43 | 0.3 |
| Interest coverage | 22.7 | 21.5 | 17.8 | 3.8 | 0.8 | 1.2 | 2.8 | 3.9 |
| Asset turnover | — | — | 0.59 | 0.61 | 0.72 | 0.71 | 0.89 | 0.92 |
| Return ratios | ||||||||
| Return on assets % | — | — | 8.1% | 3.5% | -0.9% | 1% | 3.6% | 5% |
| Return on capital employed % | — | — | 15.8% | 11.8% | 4.5% | 6.2% | 12.9% | 14.3% |
| Return on equity % | — | — | 18.3% | 8.4% | -2% | 2% | 6.7% | 8.3% |
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.