Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 15.4% | 12.8% | 12.9% | 15.1% | 16.8% | 16.7% |
| EBITDA margin % | 8.6% | 7.4% | 6.4% | 5.7% | 6.2% | 6.8% | 7.8% | 7.5% |
| EBIT margin % | 7.3% | 6% | 5% | 4.5% | 4.9% | 5.2% | 6.1% | 5.9% |
| PAT margin % | 4.3% | 3.3% | 2.8% | 2.5% | 2.7% | 3.3% | 3.8% | 3.6% |
| Working capital | ||||||||
| Receivable days | — | 21 | 13 | 13 | 13 | 15 | 18 | 21 |
| Inventory days | — | 67 | 52 | 45 | 50 | 72 | 88 | 93 |
| Payable days | — | — | 66 | 52 | 48 | 56 | 62 | 67 |
| NWC days | — | — | -1 | 6 | 15 | 32 | 45 | 47 |
| Leverage | ||||||||
| Current ratio | — | 1.29 | 1.33 | 1.3 | 1.29 | 1.42 | 1.73 | 1.7 |
| Debt to EBITDA | — | 3.06 | 2.4 | 2.32 | 2.34 | 3.1 | 2.38 | 2.33 |
| Debt to equity | — | 0.78 | 0.84 | 0.87 | 0.92 | 0.8 | 0.59 | 0.52 |
| Interest coverage | 4.5 | 4.2 | 3.9 | 4.9 | 4.6 | 3.6 | 4 | 4.3 |
| Asset turnover | — | 1.2 | 1.9 | 2.28 | 2.21 | 1.55 | 1.47 | 1.4 |
| Return ratios | ||||||||
| Return on assets % | — | 3.9% | 5.3% | 5.7% | 6% | 5.1% | 5.6% | 5.1% |
| Return on capital employed % | — | 11.7% | 18.1% | 19.2% | 20.2% | 15.7% | 16.2% | 15.3% |
| Return on equity % | — | 11.2% | 15.3% | 16.3% | 17.3% | 12.5% | 12.1% | 11% |
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.