Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 34.1% | 29.8% | 28.4% | 27.6% | 26.6% | 28.9% | 27.5% | 27.3% |
| EBITDA margin % | 12.6% | 7.7% | 6.9% | 6.9% | 8% | 9.6% | 7.7% | 7.5% |
| EBIT margin % | 7.2% | 2.1% | 1.1% | 2.8% | 4.7% | 6% | 4.3% | 3.8% |
| PAT margin % | 4.5% | 1.8% | 0.9% | 2.1% | 3.9% | 4.8% | 3.1% | 2.9% |
| Working capital | ||||||||
| Receivable days | — | — | 69 | 56 | 50 | 54 | 49 | 52 |
| Inventory days | — | — | 47 | 43 | 42 | 46 | 40 | 42 |
| Payable days | — | — | 78 | 63 | 54 | 61 | 56 | 58 |
| NWC days | — | — | 38 | 35 | 39 | 39 | 33 | 36 |
| Leverage | ||||||||
| Current ratio | — | — | 1.67 | 1.59 | 1.74 | 1.65 | 1.11 | 1.23 |
| Debt to EBITDA | — | — | 0.38 | 0.6 | 0.35 | 0.51 | 0.83 | 1.68 |
| Debt to equity | — | — | 0.06 | 0.11 | 0.09 | 0.13 | 0.17 | 0.28 |
| Interest coverage | 8.8 | 4.3 | 4.8 | 15.2 | 23.5 | 23.7 | 10.8 | 8.4 |
| Asset turnover | — | — | 1.52 | 1.7 | 2.04 | 1.76 | 1.64 | 1.35 |
| Return ratios | ||||||||
| Return on assets % | — | — | 1.4% | 3.5% | 7.9% | 8.4% | 5.1% | 3.9% |
| Return on capital employed % | — | — | 3.7% | 8.8% | 16.1% | 18% | 12% | 10.6% |
| Return on equity % | — | — | 2.1% | 5.5% | 11.8% | 13% | 8.6% | 6.5% |
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.