Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 48% | 47.9% | 60.3% | 59.1% | 42.5% | 47.5% | 47.1% | 45.2% |
| EBITDA margin % | 24% | 19.5% | 27.2% | 26.8% | 11.7% | 16.3% | 14.4% | 15.2% |
| EBIT margin % | 19.6% | 14% | 21.9% | 23% | 7.9% | 12.2% | 9.8% | 10.6% |
| PAT margin % | 10.8% | 8.2% | 11.9% | 14.1% | 3.8% | 6% | 4.6% | 4.9% |
| Working capital | ||||||||
| Receivable days | 32 | 18 | 17 | 19 | 17 | 18 | 16 | 20 |
| Inventory days | 99 | 105 | 139 | 158 | 94 | 120 | 107 | 110 |
| Payable days | 0 | 1 | 158 | 183 | 148 | 140 | 127 | 54 |
| NWC days | 131 | 122 | -2 | -6 | -37 | -3 | -4 | 76 |
| Leverage | ||||||||
| Current ratio | 0.78 | 0.83 | 0.8 | 1.03 | 1 | 0.87 | 1.06 | 1.04 |
| Debt to EBITDA | 1.8 | 3.68 | 2.68 | 1.58 | 3.59 | 2.68 | 3.56 | 3.32 |
| Debt to equity | 0.95 | 1.2 | 1.1 | 0.79 | 0.87 | 0.78 | 0.82 | 0.78 |
| Interest coverage | 4.2 | 2.4 | 4.5 | 7.6 | 2.4 | 3 | 2.2 | 2.4 |
| Asset turnover | 0.71 | 0.53 | 0.53 | 0.73 | 0.76 | 0.73 | 0.66 | 0.65 |
| Return ratios | ||||||||
| Return on assets % | 7.7% | 4.3% | 6.3% | 10.3% | 2.9% | 4.3% | 3% | 3.2% |
| Return on capital employed % | 23.6% | 12.2% | 17.7% | 27.5% | 10% | 14.1% | 10.1% | 10.3% |
| Return on equity % | 23.7% | 13.8% | 17.9% | 26.3% | 7.8% | 10.7% | 7.3% | 7.6% |
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.