Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 38.8% | 37.3% | 35.7% | ||||
| 33.8% |
| 35% |
| 34.1% |
| 34.3% |
| EBITDA margin % | 15.7% | 14.4% | 12.1% | 14.3% | 14.2% | 14.4% | 14.5% | 14.4% |
| EBIT margin % | 12% | 10.2% | 6.5% | 10.1% | 10.5% | 11% | 11.5% | 11% |
| PAT margin % | 6.4% | 6.2% | 2.5% | 5.8% | 6.5% | 6.7% | 6.9% | 6.7% |
| Working capital | ||||||||
| Receivable days | 65 | 79 | 88 | 92 | 99 | 89 | 95 | 95 |
| Inventory days | 143 | 63 | 65 | 59 | 51 | 55 | 49 | 32 |
| Payable days | — | — | 104 | 92 | 83 | 68 | 82 | 83 |
| NWC days | — | — | 49 | 59 | 68 | 77 | 63 | 45 |
| Leverage | ||||||||
| Current ratio | 1.37 | 1.4 | 1.37 | 1.55 | 1.59 | 1.81 | 1.77 | 1.63 |
| Debt to EBITDA | 1.38 | 1.34 | 1.71 | 0.85 | 0.86 | 0.82 | 0.81 | 0.72 |
| Debt to equity | 0.36 | 0.31 | 0.28 | 0.21 | 0.22 | 0.22 | 0.22 | 0.17 |
| Interest coverage | 3.9 | 3.4 | 1.8 | 3.8 | 4.8 | 4.6 | 4.5 | 4.3 |
| Asset turnover | 0.8 | 0.81 | 0.71 | 0.89 | 0.96 | 1.04 | 1.01 | 0.93 |
| Return ratios | ||||||||
| Return on assets % | 5.1% | 5% | 1.8% | 5.2% | 6.3% | 7% | 7% | 6.2% |
| Return on capital employed % | 20.7% | 17.3% | 9.7% | 18.1% | 19.8% | 20.6% | 21.9% | 19.3% |
| Return on equity % | 10.6% | 10% | 3.4% | 9.9% | 11.7% | 12.4% | 13% | 11.4% |
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.