Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 44.7% | 48.9% | 48.4% | 49.1% | 46.3% | 46.1% | 48.2% | 47.9% |
| EBITDA margin % | 9.7% | 11.4% | 15.8% | 14.7% | 14% | 13.5% | 14.6% | 11.1% |
| EBIT margin % | 5.4% | 6% | 11% | 10% | 9.9% | 9.4% | 9.6% | 5.8% |
| PAT margin % | 5.7% | 1.5% | 7.1% | 6% | 6.4% | 6.3% | 7.2% | 5% |
| Working capital | ||||||||
| Receivable days | 64 | 42 | 58 | 71 | 71 | 66 | 64 | 74 |
| Inventory days | 78 | 79 | 77 | 87 | 69 | 74 | 100 | 105 |
| Payable days | 67 | 96 | 103 | 115 | 73 | 69 | 66 | 78 |
| NWC days | 75 | 25 | 32 | 44 | 66 | 72 | 98 | 102 |
| Leverage | ||||||||
| Current ratio | 1.3 | 1.28 | 1.24 | 1.2 | 1.21 | 1.53 | 1.89 | 2.03 |
| Debt to EBITDA | 3.87 | 2.75 | 2.12 | 1.92 | 1.83 | 1.4 | 1.15 | 1.32 |
| Debt to equity | 0.88 | 0.6 | 0.57 | 0.52 | 0.5 | 0.33 | 0.24 | 0.2 |
| Interest coverage | 3.9 | 1.7 | 3.8 | 4 | 5.1 | 4.6 | 6.4 | 6.7 |
| Asset turnover | 0.99 | 0.88 | 0.82 | 0.91 | 1.07 | 1.11 | 0.98 | 0.96 |
| Return ratios | ||||||||
| Return on assets % | 5.6% | 1.3% | 5.8% | 5.4% | 6.9% | 7% | 7.1% | 4.8% |
| Return on capital employed % | 17.6% | 8.4% | 15.1% | 15.4% | 18.5% | 17.1% | 14.5% | 9.7% |
| Return on equity % | 13.2% | 2.9% | 12.1% | 11% | 12.7% | 11.1% | 10.1% | 6.7% |
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.