Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 69.6% | 41.2% | 44.2% | 42.7% | 50.3% | 49.7% | 49.3% | 52.9% |
| EBITDA margin % | 17.2% | 2.3% | 7.4% | 10.5% | 14.6% | 15.4% | 17% | 17.2% |
| EBIT margin % | 16% | 0.4% | 5.8% | 9.5% | 13.4% | 14.5% | 16% | 16% |
| PAT margin % | 15.3% | 7.3% | 8.8% | 10% | 13.4% | 13.4% | 17.2% | 17.2% |
| Working capital | ||||||||
| Receivable days | 88 | 102 | 119 | 144 | 165 | 171 | 168 | 227 |
| Inventory days | 59 | 57 | 34 | 30 | 13 | 22 | 61 | 47 |
| Payable days | — | — | 133 | 168 | 180 | 144 | 188 | 280 |
| NWC days | — | — | 20 | 6 | -3 | 49 | 40 | -6 |
| Leverage | ||||||||
| Current ratio | — | — | 2.21 | 1.81 | 2.03 | 2.2 | 2.1 | 1.92 |
| Debt to EBITDA | 0.56 | 9 | 2.82 | 1.85 | 1.27 | 1.54 | 1.59 | 2.73 |
| Debt to equity | 0.06 | 0.08 | 0.09 | 0.11 | 0.11 | 0.14 | 0.19 | 0.27 |
| Interest coverage | 52.4 | 8.3 | 11 | 22.1 | 20.6 | 13.2 | 20.1 | 18 |
| Asset turnover | 0.56 | 0.35 | 0.36 | 0.45 | 0.47 | 0.46 | 0.51 | 0.38 |
| Return ratios | ||||||||
| Return on assets % | 8.6% | 2.6% | 3.1% | 4.5% | 6.2% | 6.1% | 8.7% | 6.5% |
| Return on capital employed % | — | — | 5.1% | 8.5% | 10.9% | 12.1% | 17% | 13.1% |
| Return on equity % | 9.8% | 2.9% | 3.8% | 5.9% | 8% | 7.9% | 12.3% | 9.7% |
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.