Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 28.8% | 23.6% | 24.3% | 23.4% | 25.2% | 28.5% |
| EBITDA margin % | 11.3% | 8.1% | 8.9% | 8.9% | 8.9% | 10.9% |
| EBIT margin % | 7.5% | 5.8% | 7.4% | 7.6% | 7.3% | 9.4% |
| PAT margin % | 3.9% | 3.9% | 5% | 5.3% | 5.9% | 7.1% |
| Working capital | ||||||
| Receivable days | — | — | 163 | 179 | 150 | 183 |
| Inventory days | — | — | 55 | 66 | 40 | 41 |
| Payable days | — | — | 130 | 160 | 114 | 133 |
| NWC days | — | — | 88 | 85 | 76 | 91 |
| Leverage | ||||||
| Current ratio | — | — | 1.6 | 1.46 | 2.19 | 2.16 |
| Debt to EBITDA | — | — | 1.54 | 1.58 | 0.46 | 0.71 |
| Debt to equity | — | — | 0.3 | 0.34 | 0.08 | 0.13 |
| Interest coverage | 2.4 | 3.7 | 4.1 | 4.6 | 5.7 | 5.2 |
| Asset turnover | — | — | 1.05 | 1.03 | 1.1 | 0.97 |
| Return ratios | ||||||
| Return on assets % | — | — | 5.2% | 5.5% | 6.5% | 6.9% |
| Return on capital employed % | — | — | 17.2% | 21.2% | 20.2% | 20.2% |
| Return on equity % | — | — | 10.8% | 12.7% | 10.9% | 11.6% |
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.