Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 43.9% | 47.9% | 48.5% | 43.3% | ||||
| 37.6% |
| 42.8% |
| 42.2% |
| 44.9% |
| EBITDA margin % | 15.1% | 16.3% | 22.2% | 19.9% | 12.9% | 18.9% | 18.8% | 19.6% |
| EBIT margin % | 12.4% | 12.7% | 18.5% | 17.2% | 10.4% | 15.8% | 15.6% | 16.5% |
| PAT margin % | 9.4% | 11.4% | 16% | 14.2% | 8.8% | 12.6% | 12.8% | 13.8% |
| Working capital | ||||||||
| Receivable days | — | — | — | 89 | 78 | 78 | 79 | 98 |
| Inventory days | — | — | — | 82 | 100 | 66 | 68 | 72 |
| Payable days | — | — | — | 172 | 81 | 67 | 97 | 96 |
| NWC days | — | — | — | -1 | 97 | 77 | 51 | 74 |
| Leverage | ||||||||
| Current ratio | — | — | — | 2.16 | 2.41 | 1.59 | 1.79 | 1.96 |
| Debt to EBITDA | — | — | — | 1.29 | 2.06 | 1.61 | 1.17 | 1.31 |
| Debt to equity | — | — | — | 0.32 | 0.34 | 0.35 | 0.23 | 0.23 |
| Interest coverage | 28.2 | 21.9 | 38.7 | 25.7 | 9 | 14.6 | 19.5 | 41.7 |
| Asset turnover | — | — | — | 0.72 | 0.81 | 0.76 | 0.72 | 0.62 |
| Return ratios | ||||||||
| Return on assets % | — | — | — | 10.3% | 7.1% | 9.6% | 9.2% | 8.5% |
| Return on capital employed % | — | — | — | 21.3% | 15.4% | 20.4% | 19.2% | 17.4% |
| Return on equity % | — | — | — | 17.8% | 11.2% | 14.6% | 13.3% | 12.2% |
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.