Standalone figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 33% | 36% | 35.8% | 32.9% | 30% | 24.8% | 20.8% |
| EBITDA margin % | 13.6% | 18.2% | 17.9% | 12.2% | 7.6% | 5.6% | 4.2% |
| EBIT margin % | 12.7% | 17% | 16.5% | 10.5% | 5.6% | 3.7% | 2.6% |
| PAT margin % | 10.3% | 12.7% | 13% | 8.3% | 5.2% | 3.6% | 2.9% |
| Working capital | |||||||
| Receivable days | — | 102 | 112 | 107 | 143 | 137 | 135 |
| Inventory days | — | 78 | 100 | 122 | 100 | 81 | 79 |
| Payable days | — | 92 | 96 | 77 | 117 | 142 | 80 |
| NWC days | — | 89 | 116 | 152 | 125 | 76 | 134 |
| Leverage | |||||||
| Current ratio | — | 2.15 | 2.29 | 2.53 | 1.58 | 1.21 | 1.21 |
| Debt to EBITDA | — | 0.23 | 0.34 | 0.55 | 1.44 | 2.88 | 6.52 |
| Debt to equity | — | 0.1 | 0.13 | 0.11 | 0.16 | 0.26 | 0.49 |
| Interest coverage | 15.6 | 39.6 | 63.6 | 19.2 | 8.7 | 3.9 | 2.8 |
| Asset turnover | — | 1.45 | 1.31 | 1.14 | 0.91 | 0.88 | 0.95 |
| Return ratios | |||||||
| Return on assets % | — | 18.3% | 17.1% | 9.5% | 4.7% | 3.2% | 2.7% |
| Return on capital employed % | — | 39.7% | 41.1% | 19.6% | 11.9% | 10.9% | 10.7% |
| Return on equity % | — | 29.2% | 26.5% | 13.5% | 7.6% | 5.8% | 5.2% |
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.