Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 56.5% | 57.2% | 53.4% | 52.5% | 58.6% | 57% | 53% |
| EBITDA margin % | 21.9% | 17.9% | 22% | 21.7% | 11.5% | 16.6% | 20.3% | 7.5% |
| EBIT margin % | 17.4% | 14.3% | 17% | 19% | 7.7% | 13.2% | 18.7% | 5.4% |
| PAT margin % | 13.4% | 14.7% | 13.2% | 16.3% | 10.7% | 11.1% | 15.6% | 9.6% |
| Working capital | ||||||||
| Receivable days | 99 | 124 | 142 | 145 | 133 | 152 | 126 | 75 |
| Inventory days | 99 | 148 | 252 | 154 | 161 | 235 | 164 | 171 |
| Payable days | — | — | 77 | 61 | 57 | 75 | 64 | 54 |
| NWC days | — | — | 317 | 238 | 237 | 312 | 226 | 192 |
| Leverage | ||||||||
| Current ratio | — | — | 7.45 | 4.26 | 5.02 | 3.47 | 2.47 | 2.25 |
| Debt to EBITDA | 0.65 | 0.73 | 0 | 0.43 | 0.39 | 0.75 | 0.81 | 4.7 |
| Debt to equity | 0.15 | 0.14 | 0 | 0.09 | 0.03 | 0.08 | 0.15 | 0.18 |
| Interest coverage | 34.6 | 21.4 | 34.4 | 49.6 | 19.2 | 14.5 | 15.7 | 4.8 |
| Asset turnover | 0.77 | 0.85 | 0.55 | 0.76 | 0.55 | 0.54 | 0.71 | 0.41 |
| Return ratios | ||||||||
| Return on assets % | 10.4% | 12.5% | 7.2% | 12.4% | 5.9% | 6% | 11% | 3.9% |
| Return on capital employed % | 20.3% | 19.2% | 11.1% | 22% | 9.6% | 11.2% | 21% | 6.6% |
| Return on equity % | 13.8% | 16.1% | 8.1% | 15% | 6.6% | 7.1% | 13.8% | 4.9% |
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.