Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 32.7% | 28.7% | 24.3% | 25.3% | 25.3% | 20.1% |
| EBITDA margin % | 17.3% | 16.3% | 11.2% | 10.8% | 8% | 4.7% |
| EBIT margin % | 15.7% | 15.2% | 9.9% | 9.3% | 6% | 2.3% |
| PAT margin % | 10.7% | 10.6% | 6.7% | 6.5% | 4.1% | 1.2% |
| Working capital | ||||||
| Receivable days | 43 | 35 | 35 | 33 | 58 | 54 |
| Inventory days | 62 | 56 | 59 | 55 | 80 | 92 |
| Payable days | 15 | 7 | 8 | 10 | 8 | 11 |
| NWC days | 90 | 84 | 87 | 78 | 131 | 135 |
| Leverage | ||||||
| Current ratio | 1.93 | 2.04 | 2.22 | 5.1 | 2.3 | 1.66 |
| Debt to EBITDA | 0.7 | 0.56 | 0.69 | 0.11 | 1.47 | 3.88 |
| Debt to equity | 0.29 | 0.25 | 0.19 | 0.03 | 0.21 | 0.32 |
| Interest coverage | 9.1 | 14.3 | 10.4 | 13.9 | 9.2 | 3.2 |
| Asset turnover | 1.53 | 1.98 | 1.89 | 1.86 | 1.34 | 1.18 |
| Return ratios | ||||||
| Return on assets % | 16.4% | 21% | 12.7% | 12.1% | 5.5% | 1.4% |
| Return on capital employed % | 30% | 42.2% | 24.4% | 20.2% | 10.6% | 3.9% |
| Return on equity % | 25.2% | 29.3% | 16.8% | 14% | 7.3% | 2.1% |
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.