Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 27.4% | 26.8% | 25.6% | 23.4% | 23.7% | 25.1% | 25.3% | 25.4% |
| EBITDA margin % | 8.6% | 7.4% | 6.3% | 6.3% | 7.2% | 8.7% | 8.8% | 8.7% |
| EBIT margin % | 6.6% | 5% | 3.8% | 4.5% | 5.6% | 7% | 7.1% | 6.9% |
| PAT margin % | 4.6% | 4.5% | 3.2% | 3.8% | 4.5% | 5.5% | 5.8% | 5.8% |
| Working capital | ||||||||
| Receivable days | 50 | 46 | 60 | 60 | 47 | 49 | 53 | 55 |
| Inventory days | 40 | 42 | 57 | 43 | 36 | 34 | 37 | 36 |
| Payable days | 1 | 0 | 10 | 97 | 71 | 71 | 69 | 71 |
| NWC days | 89 | 87 | 106 | 6 | 12 | 13 | 21 | 20 |
| Leverage | ||||||||
| Current ratio | 1.71 | 1.76 | 1.7 | 1.66 | 1.81 | 1.86 | 1.97 | 1.85 |
| Debt to EBITDA | 0.04 | 0.06 | — | 0 | 0.05 | 0.04 | 0 | 0 |
| Debt to equity | 0.01 | 0.01 | — | 0 | 0.01 | 0.01 | 0 | 0 |
| Interest coverage | 49.8 | 29 | 12.9 | 30.6 | 39.8 | 47 | 70.8 | 52.6 |
| Asset turnover | 2.14 | 1.92 | 1.42 | 1.72 | 2.08 | 2.07 | 2.04 | 2.01 |
| Return ratios | ||||||||
| Return on assets % | 9.8% | 8.7% | 4.6% | 6.6% | 9.3% | 11.5% | 11.9% | 11.5% |
| Return on capital employed % | 23% | 15.7% | 11.9% | 16.9% | 21.3% | 26.2% | 25.8% | 26.3% |
| Return on equity % | 16.1% | 13% | 7.8% | 11.7% | 15.2% | 18.4% | 18.3% | 18.2% |
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.