Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 29.1% | 31.7% | 30.8% | 28.5% | 29.7% | 30.7% | 30.2% |
| EBITDA margin % | 9.3% | 10.4% | 14% | 11.3% | 9.7% | 11.3% | 11.7% | 11.8% |
| EBIT margin % | 5.1% | 4.8% | 8.4% | 6.4% | 4.7% | 6.1% | 6.3% | 6.1% |
| PAT margin % | 2.4% | 2.1% | 4.4% | 3.4% | 2.3% | 3.4% | 3.3% | 3.6% |
| Working capital | ||||||||
| Receivable days | 1 | 1 | 1 | 0 | 0 | 0 | 1 | 0 |
| Inventory days | 34 | 36 | 55 | 50 | 41 | 94 | 60 | 31 |
| Payable days | — | — | 13 | 12 | 13 | 12 | 15 | 17 |
| NWC days | — | — | 43 | 39 | 28 | 83 | 47 | 14 |
| Leverage | ||||||||
| Current ratio | 0.6 | 0.52 | 0.54 | 0.55 | 0.64 | 0.86 | 0.64 | 0.52 |
| Debt to EBITDA | 1.67 | 1.66 | 1.42 | 2.37 | 2.06 | 2.53 | 2.07 | 1.13 |
| Debt to equity | 0.92 | 1.01 | 1.08 | 1.54 | 1.01 | 1.44 | 1.22 | 0.68 |
| Interest coverage | 2.9 | 2.5 | 4.3 | 3.9 | 2.8 | 3.3 | 3.1 | 4.2 |
| Asset turnover | 2.12 | 1.96 | 1.79 | 1.8 | 1.93 | 1.69 | 1.79 | 2.24 |
| Return ratios | ||||||||
| Return on assets % | 5.1% | 4.1% | 7.9% | 6.2% | 4.4% | 5.6% | 5.9% | 8% |
| Return on capital employed % | 23.6% | 16.9% | 26.8% | 21.5% | 15% | 18.8% | 19.1% | 20.2% |
| Return on equity % | 14.3% | 12.4% | 24.1% | 19.7% | 11.5% | 17% | 16.6% | 18.3% |
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.