Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 81.6% | 38.6% | 36.7% | 35.7% | 34.8% | 34.9% | 32.1% | 34.2% |
| EBITDA margin % | 8.2% | 9.9% | 7% | 7.7% | 8.9% | 8.7% | 8.1% | 9.6% |
| EBIT margin % | 4.9% | 5.9% | 2.4% | 4.1% | 5.5% | 5.2% | 4.8% | 6% |
| PAT margin % | 5.7% | 4.5% | 1.2% | 2% | 3.1% | 3.3% | 2.7% | 3.5% |
| Working capital | ||||||||
| Receivable days | — | — | 55 | 48 | 48 | 48 | 50 | 55 |
| Inventory days | — | — | 90 | 86 | 91 | 124 | 81 | 85 |
| Payable days | — | — | 151 | 154 | 135 | 150 | 129 | 138 |
| NWC days | — | — | -6 | -20 | 4 | 22 | 1 | 2 |
| Leverage | ||||||||
| Current ratio | — | — | 0.64 | 0.69 | 0.78 | 0.79 | 0.76 | 0.76 |
| Debt to EBITDA | — | — | 3.03 | 2.7 | 1.84 | 2.62 | 2.8 | 2.02 |
| Debt to equity | — | — | 0.76 | 0.86 | 0.79 | 1.11 | 1.29 | 1.13 |
| Interest coverage | 7.6 | 4.7 | 2.1 | 4 | 4.8 | 3.6 | 2.6 | 3.8 |
| Asset turnover | — | — | 1.12 | 1.21 | 1.34 | 1.09 | 1.3 | 1.32 |
| Return ratios | ||||||||
| Return on assets % | — | — | 1.3% | 2.4% | 4.1% | 3.6% | 3.5% | 4.6% |
| Return on capital employed % | — | — | 12.6% | 16.3% | 23.2% | 22.3% | 19.4% | 27% |
| Return on equity % | — | — | 4.3% | 8.4% | 14.7% | 15.9% | 15.3% | 20.5% |
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.