Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 32% | 37.4% | 42.5% | 36.5% | 35.8% | 40.2% | 43% | 39% |
| EBITDA margin % | 12.1% | 16.3% | 16.8% | 8.7% | 9.8% | 11.2% | 19.2% | 20.3% |
| EBIT margin % | 10.3% | 14.2% | 13.2% | 5.7% | 7.4% | 9.5% | 17.8% | 19.1% |
| PAT margin % | 6.9% | 8.8% | 8.4% | 3.8% | 4.3% | 6.3% | 12.2% | 12.8% |
| Working capital | ||||||||
| Receivable days | — | — | 339 | 297 | 213 | 176 | 204 | 114 |
| Inventory days | — | — | 185 | 185 | 201 | 246 | 223 | 171 |
| Payable days | — | — | 173 | 161 | 115 | 187 | 152 | 98 |
| NWC days | — | — | 351 | 320 | 299 | 235 | 275 | 187 |
| Leverage | ||||||||
| Current ratio | — | — | 2.68 | 2.25 | 2.12 | 2.24 | 1.95 | 1.75 |
| Debt to EBITDA | — | — | 2.03 | 4.53 | 4.4 | 4.35 | 2.9 | 2.39 |
| Debt to equity | — | — | 0.22 | 0.28 | 0.35 | 0.38 | 0.74 | 1.04 |
| Interest coverage | 3.7 | 5.2 | 4.4 | 2.6 | 2.8 | 2.9 | 4.4 | 6.1 |
| Asset turnover | — | — | 0.44 | 0.45 | 0.49 | 0.44 | 0.56 | 0.75 |
| Return ratios | ||||||||
| Return on assets % | — | — | 3.7% | 1.7% | 2.1% | 2.7% | 6.9% | 9.6% |
| Return on capital employed % | — | — | 10.8% | 6.6% | 7.5% | 11.9% | 23.7% | 32.8% |
| Return on equity % | — | — | 5.5% | 2.7% | 3.6% | 4.8% | 16.1% | 27.5% |
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.