Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 54.3% | 55.8% | 57.6% | 54.6% | 51.4% | 52.7% | 87.6% | 54.8% |
| EBITDA margin % | 10% | 8.3% | 9.9% | 9% | 8.4% | 7.7% | 8.1% | 8.2% |
| EBIT margin % | 8.8% | 7.1% | 8.5% | 7.8% | 7.2% | 6.3% | 6.8% | 6.9% |
| PAT margin % | 7.7% | 8.1% | 15.5% | 7.8% | 7.1% | 7.4% | 7.6% | 4.1% |
| Working capital | ||||||||
| Receivable days | 118 | 124 | 166 | 131 | 110 | 107 | 98 | 108 |
| Inventory days | 31 | 28 | 34 | 25 | 23 | 22 | 70 | 19 |
| Payable days | — | — | 478 | 361 | 284 | 249 | 799 | 258 |
| NWC days | — | — | -279 | -205 | -151 | -121 | -631 | -131 |
| Leverage | ||||||||
| Current ratio | 0.94 | 0.71 | 1.43 | 1.39 | 1.36 | 1.26 | 1.27 | 1.29 |
| Debt to EBITDA | 1.38 | 3.77 | 3.23 | 1.66 | 1.95 | 2.33 | 1.89 | 0.91 |
| Debt to equity | 0.24 | 0.49 | 0.38 | 0.22 | 0.25 | 0.35 | 0.31 | 0.15 |
| Interest coverage | 6.3 | 3.8 | 4 | 6.6 | 5.6 | 5.5 | 7 | 10.7 |
| Asset turnover | 0.7 | 0.58 | 0.46 | 0.6 | 0.64 | 0.72 | 0.76 | 0.74 |
| Return ratios | ||||||||
| Return on assets % | 5.4% | 4.7% | 7.1% | 4.7% | 4.6% | 5.3% | 5.8% | 3% |
| Return on capital employed % | 13.3% | 10.6% | 11.8% | 14.4% | 14.6% | 16.6% | 19.2% | 21.3% |
| Return on equity % | 13.3% | 12.8% | 18.4% | 11.7% | 11% | 14.4% | 15.1% | 8.4% |
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.