Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 10% | 10.1% | 13.5% | 11.9% | 12.1% | 13.4% |
| EBITDA margin % | 7.6% | 7.2% | 7.5% | 7.4% | 8.4% | 7.5% | 6.4% | 6.9% |
| EBIT margin % | 7.3% | 6.5% | 7.1% | 7.2% | 8.1% | 7.2% | 5.9% | 6.1% |
| PAT margin % | 4.5% | 4.4% | 4.6% | 5.1% | 5.8% | 5.5% | 5.2% | 4.9% |
| Working capital | ||||||||
| Receivable days | — | 80 | 80 | 36 | 33 | 34 | 53 | 57 |
| Inventory days | — | 72 | 49 | 38 | 46 | 31 | 43 | 49 |
| Payable days | — | 19 | 31 | 8 | 8 | 5 | 5 | 6 |
| NWC days | — | 133 | 98 | 66 | 71 | 60 | 91 | 100 |
| Leverage | ||||||||
| Current ratio | — | 1.5 | 1.82 | 2 | 3.38 | 10.27 | 10.39 | 4.05 |
| Debt to EBITDA | — | 3.54 | 1.91 | 1.08 | 0.81 | 0.13 | 0.44 | 1.63 |
| Debt to equity | — | 0.95 | 0.65 | 0.5 | 0.26 | 0.03 | 0.04 | 0.16 |
| Interest coverage | 7.5 | 3.7 | 4.1 | 11.5 | 20.5 | 30.4 | 30.8 | 13.3 |
| Asset turnover | — | 1.63 | 2.08 | 3.53 | 2.76 | 2.42 | 1.46 | 1.15 |
| Return ratios | ||||||||
| Return on assets % | — | 7.1% | 9.6% | 18.1% | 16% | 13.4% | 7.5% | 5.6% |
| Return on capital employed % | — | 23.5% | 40.9% | 52.9% | 44% | 25.8% | 13.6% | 9.8% |
| Return on equity % | — | 16.5% | 20.7% | 31.8% | 22.1% | 14.5% | 8.1% | 6.8% |
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.