Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 46.5% | 43.1% | 51.4% | 47.9% | 40.8% | 35.9% | 30.9% | 33.6% |
| EBITDA margin % | 12.4% | 11.1% | 17.1% | 13.6% | 7.5% | 4.2% | 4.7% | 9.9% |
| EBIT margin % | 5.8% | 6.1% | 12.8% | 10.7% | 5% | 1.9% | 2.9% | 8% |
| PAT margin % | 3.2% | 3.3% | 8.2% | 7.7% | 3.8% | 1.3% | 1.2% | 4.6% |
| Working capital | ||||||||
| Receivable days | 54 | 48 | 47 | 40 | 44 | 44 | 33 | 32 |
| Inventory days | 54 | 89 | 89 | 69 | 82 | 62 | 76 | 53 |
| Payable days | 21 | — | 55 | 37 | 42 | 52 | 60 | 38 |
| NWC days | 87 | — | 80 | 72 | 84 | 54 | 49 | 48 |
| Leverage | ||||||||
| Current ratio | 1.31 | 1.44 | 2.34 | 2.17 | 1.43 | 1.4 | 1.14 | 1.23 |
| Debt to EBITDA | 1.38 | 1.17 | 0.08 | 0.75 | 2.81 | 6 | 4.1 | 1.36 |
| Debt to equity | 0.4 | 0.26 | 0.03 | 0.21 | 0.43 | 0.59 | 0.64 | 0.43 |
| Interest coverage | 2.9 | 3.4 | 15.3 | 24.1 | 10.8 | 3.8 | 2.2 | 4.6 |
| Asset turnover | 1.4 | 1.36 | 1.51 | 1.42 | 1.19 | 1.19 | 1.53 | 1.77 |
| Return ratios | ||||||||
| Return on assets % | 4.4% | 4.5% | 12.3% | 11% | 4.6% | 1.5% | 1.9% | 8.2% |
| Return on capital employed % | 12.2% | 11.8% | 27.4% | 23.9% | 10.1% | 4.8% | 7.5% | 22% |
| Return on equity % | 7.4% | 6.7% | 16.6% | 15.9% | 7.9% | 3% | 4% | 14.9% |
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.