Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 55.6% | 59.4% | 53.1% | 50.4% | 51.5% | 55.8% | 55.7% | 60.4% |
| EBITDA margin % | 15.1% | 15.6% | 16.3% | 16.2% | 16.1% | 16.1% | 15.7% | 12.9% |
| EBIT margin % | 11.3% | 12.1% | 12.9% | 13.8% | 13.9% | 13.3% | 13.3% | 10.5% |
| PAT margin % | 6.2% | 7.6% | 8.4% | 9.4% | 9.5% | 10.7% | 9.5% | 6.9% |
| Working capital | ||||||||
| Receivable days | 113 | — | 94 | 70 | 72 | 65 | 83 | 110 |
| Inventory days | 48 | — | 52 | 37 | 40 | 48 | 74 | 69 |
| Payable days | 1 | — | 128 | 88 | 123 | 135 | 173 | 266 |
| NWC days | 160 | — | 18 | 20 | -11 | -22 | -16 | -87 |
| Leverage | ||||||||
| Current ratio | 1.33 | — | 1.45 | 1.79 | 1.36 | 1.62 | 1.4 | 1.14 |
| Debt to EBITDA | 0.8 | — | 0.55 | 0.45 | 0.71 | 0.55 | 1.12 | 2.22 |
| Debt to equity | 0.37 | — | 0.22 | 0.19 | 0.28 | 0.19 | 0.37 | 0.5 |
| Interest coverage | 4.9 | 5.4 | 5.7 | 9.6 | 10 | 8.6 | 7.1 | 3.5 |
| Asset turnover | 1.28 | — | 1.16 | 1.52 | 1.26 | 1.25 | 1.04 | 0.79 |
| Return ratios | ||||||||
| Return on assets % | 7.9% | — | 9.7% | 14.2% | 12% | 13.3% | 9.9% | 5.4% |
| Return on capital employed % | 32.1% | — | 28.2% | 37% | 35.3% | 30.1% | 28.4% | 18.9% |
| Return on equity % | 18.7% | — | 20.4% | 24.8% | 23.7% | 23.5% | 20% | 11.9% |
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.