Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 98.8% | 32.9% | 29.7% | 29.5% | 29.2% | 31.5% | 32.9% |
| EBITDA margin % | 10.6% | 9% | 10.4% | 6.7% | 9% | 8.7% | 10% | 10.8% |
| EBIT margin % | 7.7% | 4.9% | 8.3% | 5% | 7.2% | 7.1% | 8.4% | 9% |
| PAT margin % | 4.8% | 2.9% | 6.1% | 3.2% | 4.1% | 4.8% | 5.8% | 7.1% |
| Working capital | ||||||||
| Receivable days | 87 | 83 | 90 | 87 | 80 | 88 | 95 | 100 |
| Inventory days | 57 | 4,934 | 78 | 65 | 64 | 55 | 60 | 74 |
| Payable days | — | 46 | 99 | 82 | 60 | 65 | 63 | 62 |
| NWC days | — | 4,971 | 69 | 70 | 84 | 78 | 93 | 112 |
| Leverage | ||||||||
| Current ratio | — | — | 1.11 | 1.08 | 1.19 | 1.3 | 1.28 | 1.32 |
| Debt to EBITDA | 1.89 | 2.18 | 2.62 | 3.55 | 2.77 | 2.63 | 2.66 | 2.53 |
| Debt to equity | 0.75 | 0.7 | 0.92 | 1.02 | 1.06 | 0.83 | 0.89 | 0.79 |
| Interest coverage | 5 | 2.8 | 5.8 | 3.6 | 4.1 | 3.7 | 4.8 | 5.5 |
| Asset turnover | 1.36 | 1.29 | 1.22 | 1.45 | 1.58 | 1.51 | 1.39 | 1.28 |
| Return ratios | ||||||||
| Return on assets % | 6.5% | 3.8% | 7.5% | 4.6% | 6.5% | 7.2% | 8.1% | 9.1% |
| Return on capital employed % | 19.6% | 10.5% | 20.7% | 21.8% | 27.2% | 27.1% | 28.8% | 29.1% |
| Return on equity % | 18.1% | 10.4% | 20.5% | 13.6% | 17.5% | 17.3% | 19.5% | 20.4% |
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.