Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 11.3% | 9.7% | ||||
| 10.2% |
| 16.2% |
| 14% |
| 10.9% |
| EBITDA margin % | 6.4% | 4.6% | 3.2% | 2.6% | 3.9% | 9.1% | 6.5% | 4.7% |
| EBIT margin % | 5.8% | 4% | 2.7% | 2.1% | 3.4% | 8.4% | 5.8% | 4.1% |
| PAT margin % | 3.5% | 3.7% | 2.2% | 1.6% | 2.6% | 6.6% | 5% | 3.7% |
| Working capital | ||||||||
| Receivable days | 10 | — | 5 | 6 | 6 | 11 | 4 | 5 |
| Inventory days | 22 | — | 22 | 28 | 33 | 30 | 22 | 22 |
| Payable days | — | — | 4 | 4 | 3 | 3 | 3 | 6 |
| NWC days | — | — | 22 | 30 | 35 | 38 | 24 | 20 |
| Leverage | ||||||||
| Current ratio | 2.03 | — | 4.14 | 2.16 | 2.37 | 4.39 | 4.91 | 3.7 |
| Debt to EBITDA | 0.4 | — | 0.04 | 1.81 | 1.22 | 0.16 | 0.06 | 0.17 |
| Debt to equity | 0.18 | — | 0.01 | 0.31 | 0.29 | 0.06 | 0.01 | 0.03 |
| Interest coverage | 12.1 | 14.1 | 22.6 | 9 | 8.9 | 44.6 | 88.3 | 83 |
| Asset turnover | 4.69 | — | 5.55 | 4.48 | 4.13 | 3.27 | 3.09 | 3.38 |
| Return ratios | ||||||||
| Return on assets % | 16.4% | — | 12.1% | 7.3% | 10.8% | 21.7% | 15.6% | 12.4% |
| Return on capital employed % | 42.6% | — | 19.6% | 16.6% | 24.3% | 38.4% | 25.1% | 20.1% |
| Return on equity % | 24.5% | — | 14.9% | 10.9% | 15.7% | 25.7% | 17.5% | 14.8% |
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.