Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 40.6% | 44.6% | 40.5% | 39.2% | 42% | 45.6% | 46.5% | 45.6% |
| EBITDA margin % | 7.3% | 8.2% | 9.6% | 7.3% | 9.6% | 12.6% | 12.4% | 13.7% |
| EBIT margin % | 5.7% | 6.3% | 7.5% | 5.4% | 8% | 10.8% | 10.4% | 11.5% |
| PAT margin % | 3.9% | 3.8% | 5.2% | 3.6% | 6% | 9% | 9% | 8.5% |
| Working capital | ||||||||
| Receivable days | 81 | 69 | 71 | 66 | 53 | 60 | 49 | 38 |
| Inventory days | 101 | 132 | 128 | 116 | 109 | 121 | 120 | 137 |
| Payable days | — | — | 160 | 125 | 113 | 124 | 110 | 116 |
| NWC days | — | — | 39 | 57 | 49 | 57 | 59 | 58 |
| Leverage | ||||||||
| Current ratio | 1.23 | 1.22 | 1.22 | 1.43 | 1.54 | 1.65 | 1.72 | 1.72 |
| Debt to EBITDA | 0.91 | 1.66 | 0.81 | 1.51 | 0.47 | 0.11 | 0.03 | 0.01 |
| Debt to equity | 0.16 | 0.29 | 0.13 | 0.21 | 0.09 | 0.03 | 0.01 | 0 |
| Interest coverage | 5.7 | 5.2 | 6.4 | 9.6 | 17 | 56.7 | 67 | 54.6 |
| Asset turnover | 1.02 | 0.9 | 0.8 | 0.92 | 1.07 | 1.06 | 1.06 | 0.94 |
| Return ratios | ||||||||
| Return on assets % | 4% | 3.4% | 4.1% | 3.3% | 6.4% | 9.5% | 9.6% | 7.9% |
| Return on capital employed % | 14.8% | 14.7% | 13.6% | 12.3% | 17.3% | 22.2% | 20.5% | 19.9% |
| Return on equity % | 9.3% | 8.1% | 8.7% | 6.9% | 12.2% | 16.8% | 15.8% | 12.9% |
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.