Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 26% | 24.8% | 26.4% | ||||
| 23.1% |
| 25.5% |
| 31.8% |
| 30.9% |
| EBITDA margin % | 15.6% | 11.4% | 10.7% | 11.3% | 6.8% | 8.3% | 10.9% | 10.3% |
| EBIT margin % | 13.9% | 9.7% | 9% | 9.5% | 5.3% | 6.8% | 9.5% | 8.7% |
| PAT margin % | 10.3% | 6.3% | 6.6% | 7.1% | 3.5% | 5.2% | 7% | 6.3% |
| Working capital | ||||||||
| Receivable days | — | — | 65 | — | 60 | 55 | 70 | 83 |
| Inventory days | — | — | 226 | — | 227 | 201 | 236 | 189 |
| Payable days | — | — | 124 | — | 118 | 104 | 134 | 108 |
| NWC days | — | — | 168 | — | 169 | 152 | 172 | 164 |
| Leverage | ||||||||
| Current ratio | — | — | 1.86 | — | 1.62 | 1.9 | 1.83 | 1.96 |
| Debt to EBITDA | — | — | 0.62 | — | 1.31 | 0.51 | 0.45 | 0.63 |
| Debt to equity | — | — | 0.11 | — | 0.17 | 0.08 | 0.09 | 0.11 |
| Interest coverage | 11.1 | 5.6 | 20.4 | 22.3 | 7.2 | 13.2 | 29.3 | 12 |
| Asset turnover | — | — | 1 | — | 1.06 | 1.15 | 1.06 | 1.08 |
| Return ratios | ||||||||
| Return on assets % | — | — | 6.6% | — | 3.7% | 6% | 7.4% | 6.8% |
| Return on capital employed % | — | — | 16.1% | — | 10.4% | 14.4% | 18.1% | 16.7% |
| Return on equity % | — | — | 11.4% | — | 6.9% | 10.2% | 12.9% | 11.2% |
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.