Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 52.3% | 56.2% | 57.2% | 61.9% | 47.9% | 53.4% | 55.7% | 53.9% |
| EBITDA margin % | 14.9% | 15.7% | 19.7% | 20.8% | 9.3% | 8.7% | 9.1% | 6.1% |
| EBIT margin % | 14% | 14.6% | 18.8% | 20.1% | 8.5% | 7.8% | 8.2% | 5.1% |
| PAT margin % | 8.4% | 10.5% | 14.1% | 15% | 6.2% | 5.8% | 6.4% | 3.5% |
| Working capital | ||||||||
| Receivable days | 111 | — | 85 | 102 | 122 | 113 | 127 | 140 |
| Inventory days | 159 | — | 204 | 343 | 196 | 214 | 264 | 266 |
| Payable days | 3 | — | 121 | 117 | 94 | 113 | 136 | 145 |
| NWC days | 267 | — | 168 | 328 | 225 | 214 | 255 | 261 |
| Leverage | ||||||||
| Current ratio | 1.77 | — | 2.96 | 2.73 | 2.99 | 3.26 | 2.83 | 2.24 |
| Debt to EBITDA | 0.99 | — | 0.26 | 0.63 | 0.93 | 0.74 | 1.07 | 3.04 |
| Debt to equity | 0.43 | — | 0.1 | 0.23 | 0.14 | 0.09 | 0.14 | 0.3 |
| Interest coverage | 7.6 | 13.7 | 34.5 | 34.1 | 10.1 | 10.9 | 12.9 | 4.9 |
| Asset turnover | 1.5 | — | 1.32 | 1.15 | 1.14 | 1.07 | 1.01 | 0.95 |
| Return ratios | ||||||||
| Return on assets % | 12.6% | — | 18.6% | 17.3% | 7% | 6.2% | 6.5% | 3.3% |
| Return on capital employed % | 46.8% | — | 36.2% | 39.5% | 15.4% | 12.7% | 14.2% | 9.5% |
| Return on equity % | 24.5% | — | 27% | 25.9% | 10% | 8.4% | 9.5% | 5.5% |
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.