Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 62.6% | 60.3% | 60.4% | 57.5% | 58.7% | 59.3% | 65.3% | 63.5% |
| EBITDA margin % | 21.1% | 19.4% | 25% | 20.7% | 17.9% | 15.7% | 24.3% | 12.8% |
| EBIT margin % | 19.4% | 17.4% | 23% | 18.8% | 15.7% | 13.2% | 22% | 10% |
| PAT margin % | 25.7% | 20.2% | 21.8% | 24.5% | 14.7% | 65.5% | 17.5% | -2.4% |
| Working capital | ||||||||
| Receivable days | — | — | 120 | 120 | 111 | 115 | 101 | 143 |
| Inventory days | — | — | 93 | 100 | 117 | 130 | 156 | 153 |
| Payable days | — | — | 197 | 205 | 225 | 307 | 242 | 326 |
| NWC days | — | — | 15 | 16 | 3 | -62 | 15 | -30 |
| Leverage | ||||||||
| Current ratio | — | — | 1.96 | 1.28 | 1.2 | 1.09 | 1.47 | 1.66 |
| Debt to EBITDA | — | — | 1.92 | 2.17 | 2.14 | 0.53 | 0.31 | 0 |
| Debt to equity | — | — | 0.24 | 0.22 | 0.18 | 0.03 | 0.03 | 0 |
| Interest coverage | 7.6 | 6.9 | 8 | 9.1 | 11 | 8 | 48.9 | 20.5 |
| Asset turnover | — | — | 0.37 | 0.36 | 0.33 | 0.29 | 0.33 | 0.29 |
| Return ratios | ||||||||
| Return on assets % | — | — | 8% | 8.7% | 4.9% | 18.8% | 5.7% | -0.7% |
| Return on capital employed % | — | — | 11.8% | 11.4% | 11.3% | 10% | 9.9% | 6.4% |
| Return on equity % | — | — | 11.1% | 11.9% | 6.8% | 22.5% | 6.6% | -0.8% |
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.