Standalone figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 65% | 67% | 68.8% | 71.6% | 65% | 66.7% | 68.9% |
| EBITDA margin % | 17.7% | 25.6% | 30.5% | 36.6% | 21.9% | 24.9% | 28.9% |
| EBIT margin % | 10.7% | 18.3% | 25.6% | 32.7% | 15.4% | 18.5% | 22.4% |
| PAT margin % | 7.6% | -9% | 20.3% | 24.1% | 10.4% | 12.6% | 14.9% |
| Working capital | |||||||
| Receivable days | 94 | 106 | 81 | 94 | 113 | 126 | 135 |
| Inventory days | 275 | 311 | 234 | 260 | 309 | 301 | 341 |
| Payable days | 142 | 142 | 152 | 154 | 145 | 137 | 127 |
| NWC days | 227 | 275 | 162 | 200 | 277 | 291 | 350 |
| Leverage | |||||||
| Current ratio | — | 1.06 | 1.26 | 1.52 | 1.37 | 1.62 | 1.75 |
| Debt to EBITDA | 3.37 | 2.14 | 1.2 | 0.71 | 2.26 | 1.74 | 1.19 |
| Debt to equity | 0.4 | 0.4 | 0.33 | 0.26 | 0.34 | 0.31 | 0.22 |
| Interest coverage | 4.4 | 5.3 | 14.6 | 16.8 | 5.4 | 5.7 | 9 |
| Asset turnover | 0.42 | 0.43 | 0.56 | 0.68 | 0.44 | 0.47 | 0.46 |
| Return ratios | |||||||
| Return on assets % | 3.2% | -3.9% | 11.4% | 16.4% | 4.6% | 6% | 6.9% |
| Return on capital employed % | — | 14% | 24.3% | 35.3% | 10.8% | 13% | 14.1% |
| Return on equity % | 5.1% | -6.6% | 18.4% | 24.5% | 7.1% | 8.9% | 9.5% |
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.