Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 41.6% | 40.1% | 46.1% | 45.3% | 39.5% | 39.3% | 39% | 44.1% |
| EBITDA margin % | 17.3% | 14.5% | 24.2% | 28.2% | 14.6% | 12.3% | 10.6% | 16% |
| EBIT margin % | 14.4% | 9.8% | 21.6% | 26.7% | 11.7% | 9.2% | 8% | 13.2% |
| PAT margin % | 19.3% | 3.3% | 13.7% | 18% | 9.1% | 7% | 5.6% | 8.4% |
| Working capital | ||||||||
| Receivable days | 68 | 73 | 64 | 56 | 47 | 54 | 58 | 56 |
| Inventory days | 161 | 135 | 111 | 106 | 218 | 158 | 164 | 170 |
| Payable days | 216 | 4 | 121 | 38 | 24 | 28 | 27 | 19 |
| NWC days | 13 | 204 | 54 | 125 | 241 | 184 | 195 | 207 |
| Leverage | ||||||||
| Current ratio | 1.08 | 0.98 | 1.48 | 2.19 | 3.56 | 5.23 | 3.14 | 3.75 |
| Debt to EBITDA | 2.02 | 1.66 | 0.64 | 0.24 | 0.43 | 0.02 | 1.06 | 0.69 |
| Debt to equity | 0.63 | 0.44 | 0.31 | 0.15 | 0.08 | 0 | 0.14 | 0.13 |
| Interest coverage | 2.7 | 2 | 8.1 | 41.5 | 11.8 | 22.7 | 9.8 | 13.8 |
| Asset turnover | 0.67 | 0.77 | 1.09 | 1.49 | 0.97 | 0.95 | 0.97 | 0.92 |
| Return ratios | ||||||||
| Return on assets % | 13% | 2.5% | 15% | 26.9% | 8.8% | 6.6% | 5.5% | 7.8% |
| Return on capital employed % | 22.1% | 16.1% | 43.7% | 67% | 14.9% | 11% | 11.8% | 16.9% |
| Return on equity % | 34.7% | 6% | 27.8% | 38.4% | 10.9% | 7.6% | 7.1% | 9.9% |
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.