Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 98.4% | 36.2% | 38.2% | 31% | 29.7% | 36.6% | 33.8% | 36.6% |
| EBITDA margin % | 9.6% | 10.7% | 13.9% | 8.7% | 8.1% | 13.2% | 9.9% | 13.1% |
| EBIT margin % | 7.1% | 6.7% | 9.9% | 5.7% | 5.5% | 10.7% | 7.3% | 10.3% |
| PAT margin % | 2.7% | 3.8% | 4.2% | 2.3% | 1.9% | 5.7% | 3.8% | 5.1% |
| Working capital | ||||||||
| Receivable days | — | — | 81 | 76 | 67 | 77 | 81 | 78 |
| Inventory days | — | — | 115 | 101 | 70 | 78 | 82 | 88 |
| Payable days | — | — | 115 | 91 | 56 | 75 | 63 | 70 |
| NWC days | — | — | 81 | 86 | 81 | 80 | 101 | 96 |
| Leverage | ||||||||
| Current ratio | — | — | 1.08 | 1.02 | 1.13 | 1.35 | 1.42 | 1.36 |
| Debt to EBITDA | — | — | 2.74 | 4.03 | 3.29 | 1.73 | 2.63 | 2.22 |
| Debt to equity | — | — | 0.97 | 1.12 | 0.88 | 0.6 | 0.63 | 0.8 |
| Interest coverage | 2 | 1.3 | 2.4 | 2.1 | 2.2 | 4.7 | 3 | 4 |
| Asset turnover | — | — | 0.85 | 0.99 | 1.2 | 1.08 | 1.02 | 1.05 |
| Return ratios | ||||||||
| Return on assets % | — | — | 3.5% | 2.2% | 2.3% | 6.2% | 3.9% | 5.4% |
| Return on capital employed % | — | — | 14.2% | 11% | 12.2% | 21.2% | 13% | 19.7% |
| Return on equity % | — | — | 10.7% | 7.2% | 6.4% | 15.2% | 9.2% | 14.2% |
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.