Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 40% | 48.5% | 37.3% | 36.4% | 30.5% | 35.8% | 33.7% |
| EBITDA margin % | 10.5% | 18.2% | 23.8% | 17.3% | 9.3% | -0.4% | 11.1% | 6.8% |
| EBIT margin % | 7.3% | 14.8% | 20.2% | 14.5% | 5.7% | -5.4% | 7.1% | 2.7% |
| PAT margin % | 3% | 9.6% | 14.3% | 9.9% | 15% | -5.1% | 3.8% | 0.4% |
| Working capital | ||||||||
| Receivable days | — | — | 56 | 50 | 46 | 46 | 45 | 44 |
| Inventory days | — | — | 98 | 84 | 73 | 69 | 69 | 84 |
| Payable days | — | — | 27 | 26 | 14 | 22 | 18 | 25 |
| NWC days | — | — | 126 | 108 | 106 | 93 | 96 | 103 |
| Leverage | ||||||||
| Current ratio | — | — | 1.93 | 1.89 | 1.9 | 1.43 | 1.85 | 1.75 |
| Debt to EBITDA | — | — | 0.87 | 1.31 | 3.86 | — | 2.52 | 4.68 |
| Debt to equity | — | — | 0.4 | 0.51 | 0.5 | 0.44 | 0.33 | 0.35 |
| Interest coverage | 2.4 | 6.7 | 11.2 | 8.6 | 2.6 | -0.5 | 2.5 | 1.2 |
| Asset turnover | — | — | 1.15 | 1.28 | 0.84 | 0.66 | 0.81 | 0.74 |
| Return ratios | ||||||||
| Return on assets % | — | — | 16.5% | 12.6% | 12.6% | -3.4% | 3.1% | 0.3% |
| Return on capital employed % | — | — | 30.6% | 27.9% | 8.4% | -2% | 8.6% | 3.8% |
| Return on equity % | — | — | 27.5% | 22.1% | 20.8% | -5.2% | 4.5% | 0.5% |
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.