Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 29.8% | 29% | 27.9% | 26.6% | 26.8% |
| EBITDA margin % | 9.8% | 9.9% | 9.8% | 9.4% | 7.5% | 7.2% | 6.7% | 7.2% |
| EBIT margin % | 8.4% | 8.6% | 8.3% | 7.9% | 6.4% | 6.4% | 5.9% | 6.3% |
| PAT margin % | 6.2% | 6.5% | 5.9% | 5.7% | 5.1% | 5.3% | 5.7% | 5% |
| Working capital | ||||||||
| Receivable days | — | — | — | 86 | 69 | 56 | 57 | 65 |
| Inventory days | — | — | — | 175 | 172 | 136 | 137 | 134 |
| Payable days | — | — | — | 79 | 77 | 70 | 54 | 59 |
| NWC days | — | — | — | 182 | 164 | 122 | 140 | 139 |
| Leverage | ||||||||
| Current ratio | — | — | — | 2.03 | 2.08 | 2.11 | 2.27 | 2.03 |
| Debt to EBITDA | — | — | — | 1.66 | 1.56 | 1.2 | 1.28 | 1.46 |
| Debt to equity | — | — | — | 0.29 | 0.25 | 0.2 | 0.19 | 0.24 |
| Interest coverage | 5.9 | 8.9 | 5.2 | 5.8 | 7.6 | 8.9 | 8.9 | 8.8 |
| Asset turnover | — | — | — | 1.06 | 1.21 | 1.39 | 1.41 | 1.38 |
| Return ratios | ||||||||
| Return on assets % | — | — | — | 6% | 6.1% | 7.4% | 8% | 6.9% |
| Return on capital employed % | — | — | — | 14.6% | 16.4% | 19.3% | 19.3% | 18.4% |
| Return on equity % | — | — | — | 10.4% | 10.7% | 12.4% | 12.7% | 11.5% |
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.