Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 38% | 38.7% | 38.8% | 48.2% | 50.1% | 58.1% |
| EBITDA margin % | 7.3% | 7.3% | 7.5% | 11.1% | 10.9% | 19% | 20.1% | 33.9% |
| EBIT margin % | 3.7% | 3.5% | 3.3% | 8.2% | 8.4% | 17.2% | 17.9% | 32.4% |
| PAT margin % | 2% | 2.2% | 1.6% | 7.3% | 7.1% | 11.9% | 13.8% | 24.5% |
| Working capital | ||||||||
| Receivable days | 105 | 107 | 110 | 92 | 87 | 64 | 72 | 74 |
| Inventory days | 102 | 111 | 184 | 147 | 146 | 137 | 196 | 148 |
| Payable days | 3 | 2 | 7 | 4 | 43 | 41 | 67 | 48 |
| NWC days | 204 | 216 | 287 | 234 | 191 | 160 | 201 | 173 |
| Leverage | ||||||||
| Current ratio | — | — | — | — | 2.87 | 2.81 | 2.9 | 3.44 |
| Debt to EBITDA | 2.36 | 1.78 | 0.84 | 0.37 | 0.51 | 0.12 | 0.12 | 0.03 |
| Debt to equity | 0.27 | 0.17 | 0.07 | 0.06 | 0.08 | 0.04 | 0.03 | 0.02 |
| Interest coverage | 2.1 | 2.5 | 2.7 | 15.8 | 21.1 | 31.9 | 31.9 | 81.9 |
| Asset turnover | 1.08 | 0.97 | 0.87 | 1.08 | 1.04 | 1.36 | 1 | 1.13 |
| Return ratios | ||||||||
| Return on assets % | 2.2% | 2.2% | 1.4% | 7.9% | 7.4% | 16.2% | 13.8% | 27.7% |
| Return on capital employed % | — | — | 4% | — | 13% | 35.3% | 27.2% | 58.3% |
| Return on equity % | 3.2% | 3% | 1.8% | 9.9% | 10% | 21.9% | 18.3% | 36.7% |
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.