Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 23.1% | 18.1% | 23% | 14.4% | 20.6% | 15.8% |
| EBITDA margin % | 14% | 14.6% | 13.1% | 11.8% | 15.2% | 9.7% | 12% | 11.3% |
| EBIT margin % | 14% | 11.8% | 6.9% | 8.6% | 11% | 6% | 7.8% | 6.7% |
| PAT margin % | 7.7% | 7.3% | 2.1% | 5.4% | 5.6% | 3.9% | 4% | 2.8% |
| Working capital | ||||||||
| Receivable days | — | — | 177 | 124 | 116 | 148 | 146 | 236 |
| Inventory days | 31 | 94 | 179 | 117 | 146 | 118 | 120 | 111 |
| Payable days | 77 | 66 | 106 | 75 | 91 | 158 | 105 | 162 |
| NWC days | — | — | 250 | 165 | 171 | 107 | 161 | 186 |
| Leverage | ||||||||
| Current ratio | 2.67 | 2.08 | 1.9 | 1.73 | 2 | 1.72 | 2.02 | 1.79 |
| Debt to EBITDA | 0.01 | 0.01 | 2.76 | 1.7 | 1.43 | 2.42 | 1.85 | 1.79 |
| Debt to equity | 0 | 0 | 0.26 | 0.26 | 0.24 | 0.26 | 0.24 | 0.21 |
| Interest coverage | 7.1 | 4.7 | 1.7 | 3.4 | 2.8 | 2.1 | 2.4 | 2.3 |
| Asset turnover | 0.96 | 0.78 | 0.48 | 0.82 | 0.71 | 0.62 | 0.66 | 0.59 |
| Return ratios | ||||||||
| Return on assets % | 7.4% | 5.6% | 1% | 4.4% | 4% | 2.4% | 2.7% | 1.6% |
| Return on capital employed % | 22.1% | 14.5% | 5.5% | 12.5% | 13.6% | 8.1% | 11.4% | 8.5% |
| Return on equity % | 10.7% | 8.2% | 1.5% | 7% | 6.1% | 4.2% | 4.3% | 2.9% |
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.