Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 48.5% | 71.1% | 53.2% | 49.8% | 44.8% | 48.4% | 47.6% | 44.5% |
| EBITDA margin % | 15% | 14.2% | 21% | 14.9% | 14.6% | 12.9% | 12.5% | 10.7% |
| EBIT margin % | 6.9% | 6.2% | 14.9% | 9.7% | 9.3% | 7.6% | 7% | 5.4% |
| PAT margin % | 5.4% | 6% | 6.9% | 8% | 7.3% | 7.3% | 5.8% | 3.5% |
| Working capital | ||||||||
| Receivable days | 107 | — | 88 | 84 | 88 | 78 | 82 | 88 |
| Inventory days | 128 | — | 121 | 157 | 137 | 136 | 186 | 154 |
| Payable days | 91 | — | 102 | 100 | 63 | 76 | 101 | 77 |
| NWC days | 145 | — | 107 | 140 | 162 | 138 | 167 | 164 |
| Leverage | ||||||||
| Current ratio | 2.15 | — | 2.89 | 2.45 | 2.98 | 2.63 | 2.19 | 2.35 |
| Debt to EBITDA | 0.91 | — | 0.26 | 0.64 | 0.94 | 0.94 | 1.15 | 1.08 |
| Debt to equity | 0.13 | — | 0.06 | 0.13 | 0.18 | 0.16 | 0.21 | 0.18 |
| Interest coverage | 8.9 | 13.1 | 43.9 | 30.2 | 19.7 | 8.5 | 7.3 | 5.3 |
| Asset turnover | 0.75 | — | 0.86 | 0.95 | 0.95 | 0.97 | 0.97 | 1.1 |
| Return ratios | ||||||||
| Return on assets % | 4.1% | — | 6% | 7.6% | 7% | 7.1% | 5.6% | 3.8% |
| Return on capital employed % | 7.3% | — | 17.2% | 14.6% | 13.4% | 11.7% | 11.6% | 8.9% |
| Return on equity % | 5.1% | — | 8% | 10.8% | 9.8% | 9.8% | 8.3% | 5.5% |
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.