Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 39.3% | 54.7% | ||||
| 48.1% |
| 47% |
| 45.4% |
| 44.5% |
| EBITDA margin % | 13.9% | 15.1% | 17.8% | 20.4% | 17.5% | 15.1% | 10.9% | 10.2% |
| EBIT margin % | 12.1% | 13% | 15.5% | 15.4% | 12.9% | 11% | 6.3% | 6.3% |
| PAT margin % | 9.8% | 10.5% | 11.3% | 12.9% | 10.9% | 7.7% | 6.3% | 5.3% |
| Working capital | ||||||||
| Receivable days | — | — | 165 | 193 | 159 | 102 | 141 | 132 |
| Inventory days | — | — | 28 | 188 | 230 | 237 | 274 | 258 |
| Payable days | — | — | 161 | 291 | 233 | 152 | 182 | 138 |
| NWC days | — | — | 32 | 91 | 157 | 188 | 234 | 252 |
| Leverage | ||||||||
| Current ratio | — | — | 1.84 | 1.7 | 1.96 | 1.85 | 2.12 | 2.62 |
| Debt to EBITDA | — | — | 0.89 | 1.03 | 1 | 1.14 | 1.64 | 2.02 |
| Debt to equity | — | — | 0.13 | 0.16 | 0.12 | 0.14 | 0.13 | 0.13 |
| Interest coverage | 19.6 | — | 16.8 | 13.9 | 6.9 | 4.9 | 5.2 | 5.2 |
| Asset turnover | — | — | 0.57 | 0.51 | 0.5 | 0.59 | 0.52 | 0.49 |
| Return ratios | ||||||||
| Return on assets % | — | — | 6.5% | 6.6% | 5.4% | 4.5% | 3.2% | 2.6% |
| Return on capital employed % | — | — | 12.6% | 13.2% | 11.5% | 10.4% | 7.3% | 5.7% |
| Return on equity % | — | — | 9.3% | 10.1% | 7.7% | 6.4% | 4.4% | 3.4% |
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.