Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 18% | 21.1% | 23.4% | 22% | 24.8% | 22.6% |
| EBITDA margin % | 9.5% | 7.9% | 10.6% | 12.8% | 17% | 16% | 19% | 18.4% |
| EBIT margin % | 9.3% | 7.7% | 10.1% | 12.2% | 16.5% | 15.5% | 18% | 17.4% |
| PAT margin % | 3.5% | 1.2% | 3.8% | 7.4% | 9.5% | 8.6% | 10.6% | 10.2% |
| Working capital | ||||||||
| Receivable days | — | 52 | 77 | 61 | 94 | 108 | 117 | 110 |
| Inventory days | — | 405 | 213 | 220 | 168 | 142 | 158 | 131 |
| Payable days | — | 0 | 13 | 1 | 5 | 2 | 6 | 8 |
| NWC days | — | 458 | 277 | 280 | 257 | 248 | 270 | 233 |
| Leverage | ||||||||
| Current ratio | — | 3.11 | 2.01 | 2.01 | 1.74 | 2.01 | 1.45 | 1.92 |
| Debt to EBITDA | — | 5.81 | 5.75 | 3.83 | 2.84 | 2.57 | 2.54 | 2.63 |
| Debt to equity | — | 0.59 | 0.85 | 0.65 | 0.81 | 0.64 | 0.84 | 0.89 |
| Interest coverage | 4.3 | 1.4 | 2 | 2.9 | 4 | 3.9 | 4.3 | 4.2 |
| Asset turnover | — | 0.72 | 0.7 | 0.7 | 0.85 | 0.89 | 0.88 | 0.9 |
| Return ratios | ||||||||
| Return on assets % | — | 0.9% | 2.6% | 5.2% | 8.1% | 7.7% | 9.3% | 9.1% |
| Return on capital employed % | — | 9.4% | 10.9% | 15.1% | 23.2% | 23.7% | 29.7% | 28.9% |
| Return on equity % | — | 1.5% | 5.3% | 9.8% | 16.1% | 13.4% | 18.5% | 18.7% |
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.