Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 55.1% | 56.5% | 57.6% | 52.1% | 49.7% | 51.1% | 50.4% | 51.8% |
| EBITDA margin % | 21% | 21.5% | 19.5% | 16.6% | 17.3% | 19.3% | 17.9% | 18.2% |
| EBIT margin % | 12.1% | 9.4% | 8.9% | 8.7% | 8.3% | 9.9% | 9.6% | 9.4% |
| PAT margin % | 7.6% | 13.2% | 18.2% | 17.7% | 17% | 13.8% | 15.9% | 21.3% |
| Working capital | ||||||||
| Receivable days | 64 | 63 | 77 | 78 | 69 | 75 | 64 | 86 |
| Inventory days | 80 | 87 | 91 | 89 | 74 | 88 | 81 | 106 |
| Payable days | — | 1 | 102 | 75 | 80 | 90 | 85 | 95 |
| NWC days | — | 149 | 66 | 91 | 63 | 72 | 60 | 97 |
| Leverage | ||||||||
| Current ratio | 2.14 | 1.7 | 1.46 | 1.61 | 1.55 | 1.63 | 1.27 | 1.31 |
| Debt to EBITDA | 0.97 | 0.8 | 0.88 | 1.33 | 0.85 | 0.77 | 1 | 1.7 |
| Debt to equity | 0.26 | 0.2 | 0.2 | 0.27 | 0.2 | 0.2 | 0.23 | 0.36 |
| Interest coverage | 5.3 | 7.7 | 12.8 | 14.2 | 10 | 9.5 | 10.6 | 10.4 |
| Asset turnover | 0.84 | 0.74 | 0.78 | 0.82 | 0.9 | 0.91 | 0.86 | 0.7 |
| Return ratios | ||||||||
| Return on assets % | 6.4% | 9.8% | 14.2% | 14.5% | 15.4% | 12.5% | 13.7% | 14.9% |
| Return on capital employed % | 14.8% | 18.2% | 22.4% | 23.1% | 22.2% | 19% | 22.3% | 25.6% |
| Return on equity % | 9.5% | 15.2% | 20.8% | 21.9% | 22.9% | 18.6% | 20.4% | 25% |
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.