Standalone figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 17.7% | 16.9% | 15.3% | 15.6% | 14.5% | 12.7% | 12.7% |
| EBITDA margin % | 8.1% | 8.5% | 7.6% | 8.1% | 7.1% | 5.9% | 6.9% |
| EBIT margin % | 5.7% | 6.2% | 5.6% | 6.5% | 5.8% | 4.8% | 5.9% |
| PAT margin % | 2% | 1.9% | 2.4% | 3.4% | 3.5% | 3.2% | 4.1% |
| Working capital | |||||||
| Receivable days | — | 0 | 0 | 3 | 4 | 6 | 9 |
| Inventory days | — | 263 | 226 | 213 | 182 | 146 | 144 |
| Payable days | — | 33 | 24 | 36 | 42 | 36 | 41 |
| NWC days | — | 230 | 202 | 181 | 145 | 116 | 112 |
| Leverage | |||||||
| Current ratio | — | 1.29 | 1.35 | 1.35 | 1.33 | 1.32 | 1.31 |
| Debt to EBITDA | — | 3.82 | 3.42 | 1.42 | 0.8 | 0.69 | 0.15 |
| Debt to equity | — | 0.79 | 0.73 | 0.36 | 0.21 | 0.18 | 0.05 |
| Interest coverage | 1.8 | 1.6 | 2.1 | 3.4 | 4.1 | 4.7 | 7.1 |
| Asset turnover | — | 0.93 | 1.17 | 1.26 | 1.44 | 1.7 | 1.82 |
| Return ratios | |||||||
| Return on assets % | — | 1.7% | 2.8% | 4.2% | 5.1% | 5.4% | 7.5% |
| Return on capital employed % | — | 13.7% | 14.7% | 19.4% | 20.8% | 21.1% | 30.1% |
| Return on equity % | — | 4.6% | 6.6% | 10.6% | 13.3% | 14.4% | 21% |
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.