Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 26.8% | 12.4% | 28.9% | 28.8% | ||||
| 24.6% |
| 25.1% |
| 26.6% |
| 26.1% |
| EBITDA margin % | 11.3% | -2.8% | 8.5% | 10.5% | 6% | 7% | 8.1% | 8.3% |
| EBIT margin % | 10.2% | -3.9% | 7.1% | 9.6% | 5.1% | 5.9% | 6.9% | 6.9% |
| PAT margin % | 6% | -3% | 5% | 7.1% | 3.7% | 4.3% | 4.9% | 5.1% |
| Working capital | ||||||||
| Receivable days | — | — | 50 | 36 | 36 | 44 | 43 | 50 |
| Inventory days | — | — | 80 | 55 | 43 | 42 | 49 | 57 |
| Payable days | — | — | 16 | 12 | 7 | 11 | 9 | 14 |
| NWC days | — | — | 114 | 78 | 72 | 75 | 83 | 93 |
| Leverage | ||||||||
| Current ratio | — | — | 2.62 | 4.04 | 7.82 | 4.26 | 3.77 | 3.25 |
| Debt to EBITDA | — | — | 0.97 | 0.28 | 0.21 | 0.51 | 0.54 | 0.57 |
| Debt to equity | — | — | 0.18 | 0.08 | 0.03 | 0.08 | 0.11 | 0.1 |
| Interest coverage | 6.7 | -2.2 | 9.6 | 36.1 | 21.6 | 16.5 | 13.9 | 14.4 |
| Asset turnover | — | — | 1.61 | 2.27 | 2.33 | 1.84 | 2 | 1.7 |
| Return ratios | ||||||||
| Return on assets % | — | — | 8% | 16.1% | 8.6% | 8% | 9.8% | 8.6% |
| Return on capital employed % | — | — | 14.8% | 28.3% | 13.8% | 13.2% | 17.1% | 15.4% |
| Return on equity % | — | — | 10.7% | 19.9% | 10% | 9.7% | 12.3% | 11% |
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.