Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 46.3% | 44.8% | 48.6% | 49.3% | 53.8% | 56.7% | 52.9% | 56% |
| EBITDA margin % | 8.3% | 9.1% | 15.2% | 14.1% | 14.7% | 15.7% | 12.3% | 9.6% |
| EBIT margin % | 6.5% | 7% | 13.6% | 12.7% | 12.5% | 13.5% | 10.1% | 6.6% |
| PAT margin % | 3.3% | 3.8% | 10.4% | 12.1% | 8.6% | 9.6% | 6.3% | 4.7% |
| Working capital | ||||||||
| Receivable days | 55 | 48 | 76 | 61 | 65 | 61 | 76 | 79 |
| Inventory days | 175 | 169 | 191 | 238 | 221 | 266 | 182 | 262 |
| Payable days | 47 | 39 | 65 | 40 | 61 | 76 | 33 | 60 |
| NWC days | 183 | 177 | 203 | 258 | 224 | 252 | 225 | 280 |
| Leverage | ||||||||
| Current ratio | 2.32 | 1.87 | 1.94 | 1.52 | 1.77 | 1.81 | 1.75 | 1.91 |
| Debt to EBITDA | 1.9 | 1.84 | 1.42 | 3.02 | 2.05 | 1.75 | 2.18 | 2.6 |
| Debt to equity | 0.3 | 0.34 | 0.42 | 0.76 | 0.48 | 0.45 | 0.45 | 0.33 |
| Interest coverage | 3.8 | 5.2 | 14.1 | 11.8 | 6.6 | 7.5 | 4 | 3 |
| Asset turnover | 1.17 | 1.18 | 1.12 | 0.91 | 0.93 | 0.95 | 1.02 | 0.83 |
| Return ratios | ||||||||
| Return on assets % | 3.8% | 4.4% | 11.6% | 10.9% | 8% | 9.2% | 6.4% | 3.9% |
| Return on capital employed % | 11.3% | 17.2% | 30.7% | 31.7% | 20% | 22.6% | 17.8% | 11.2% |
| Return on equity % | 6.2% | 7.6% | 20.4% | 21.4% | 13.5% | 15.6% | 10.6% | 6.2% |
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.