Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 20.7% | 20.8% | 23.1% | 20.7% | 18.1% | 20.7% | 23.4% | 23.3% |
| EBITDA margin % | 7.7% | 8.2% | 8.5% | 7.9% | 6.1% | 8.1% | 10.9% | 10% |
| EBIT margin % | 6.3% | 6.7% | 6.5% | 6.4% | 4.7% | 6.4% | 9.1% | 8.3% |
| PAT margin % | 4.9% | 5.7% | 6.3% | 5.8% | 4.4% | 5% | 7.2% | 6.8% |
| Working capital | ||||||||
| Receivable days | 50 | 51 | 54 | 41 | 25 | 18 | 20 | 17 |
| Inventory days | 73 | 54 | 75 | 78 | 56 | 63 | 65 | 67 |
| Payable days | 115 | 83 | 47 | 32 | 29 | 29 | 48 | 90 |
| NWC days | 8 | 21 | 81 | 87 | 52 | 52 | 37 | -6 |
| Leverage | ||||||||
| Current ratio | 1 | 1.02 | 1.2 | 1.13 | 1.05 | 1.06 | 1 | 0.97 |
| Debt to EBITDA | 0.33 | 0.92 | 1.86 | 2.06 | 1.74 | 1.02 | 0.69 | 0.98 |
| Debt to equity | 0.08 | 0.25 | 0.4 | 0.51 | 0.35 | 0.26 | 0.2 | 0.26 |
| Interest coverage | 15 | 16.3 | 10.7 | 11.9 | 7.1 | 8.5 | 9 | 9.5 |
| Asset turnover | 1.48 | 1.58 | 1.36 | 1.61 | 1.83 | 1.81 | 1.6 | 1.33 |
| Return ratios | ||||||||
| Return on assets % | 7.2% | 9% | 8.6% | 9.4% | 8.1% | 9.1% | 11.5% | 9.1% |
| Return on capital employed % | 22.9% | 24.1% | 21.5% | 25.2% | 20.9% | 22.6% | 28.4% | 24.8% |
| Return on equity % | 14.9% | 18.6% | 15.9% | 18.3% | 14.6% | 15.8% | 19.5% | 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.