Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 55.5% | 60.9% | 54.4% | 52.8% | ||||
| 54.2% |
| 55.5% |
| 52.2% |
| 51.8% |
| EBITDA margin % | 11.7% | 12.6% | 18.1% | 20.8% | 23.5% | 25.9% | 24.8% | 23.6% |
| EBIT margin % | 7.2% | 7.4% | 12.8% | 16.5% | 20.2% | 23.3% | 22.1% | 19% |
| PAT margin % | 1.3% | 8.7% | 4.6% | 10.8% | 15.7% | 19% | 18.2% | 23.7% |
| Working capital | ||||||||
| Receivable days | 209 | 244 | 214 | 156 | 91 | 93 | 112 | 120 |
| Inventory days | 205 | 255 | 177 | 158 | 117 | 79 | 68 | 76 |
| Payable days | 294 | 512 | 363 | 187 | 113 | 83 | 94 | 88 |
| NWC days | 120 | -13 | 28 | 127 | 95 | 89 | 85 | 108 |
| Leverage | ||||||||
| Current ratio | 1.17 | 1.15 | 1.29 | 1.47 | 2.31 | 2.92 | 2.9 | 2.91 |
| Debt to EBITDA | 4.04 | 3.18 | 1.56 | 0.54 | 0 | 0 | 0.01 | 0 |
| Debt to equity | 0.61 | 0.43 | 0.27 | 0.11 | 0 | 0 | 0 | 0 |
| Interest coverage | 1.4 | 1 | 2.1 | 4.9 | 22.8 | 69.4 | 46.9 | 19.7 |
| Asset turnover | 0.49 | 0.46 | 0.47 | 0.62 | 0.85 | 0.91 | 0.81 | 0.7 |
| Return ratios | ||||||||
| Return on assets % | 0.6% | 3.9% | 2.1% | 6.7% | 13.3% | 17.2% | 14.8% | 16.7% |
| Return on capital employed % | 9.2% | 7.1% | 11.6% | 15.9% | 24.6% | 32.1% | 28.6% | 22.3% |
| Return on equity % | 1.6% | 9.3% | 4.4% | 10.5% | 17.4% | 22.5% | 20.6% | 23.3% |
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.