Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 39.5% | 36.6% | 36.9% | 36.5% | 38.6% | 39.3% | 38.3% |
| EBITDA margin % | 13.3% | 11.2% | 9.1% | 9.7% | 10.2% | 11.4% | 11.5% | 11.6% |
| EBIT margin % | 10.4% | 7.4% | 5.2% | 5.9% | 7.1% | 7.8% | 7.4% | 7.7% |
| PAT margin % | 9.3% | -11.3% | 3.7% | 5.9% | 6.9% | 4.9% | 5% | 4.8% |
| Working capital | ||||||||
| Receivable days | 144 | 56 | 68 | 60 | 50 | 58 | 55 | 52 |
| Inventory days | 94 | 91 | 94 | 83 | 75 | 64 | 65 | 61 |
| Payable days | — | 120 | 124 | 93 | 93 | 85 | 94 | 98 |
| NWC days | — | 28 | 39 | 50 | 32 | 37 | 26 | 16 |
| Leverage | ||||||||
| Current ratio | 1.56 | 1.36 | 1.38 | 1.37 | 1.09 | 1.7 | 0.69 | 0.76 |
| Debt to EBITDA | 2.24 | 1.18 | 2.32 | 1.48 | 1.63 | 0.83 | 2.91 | 2.19 |
| Debt to equity | 0.3 | 0.32 | 0.47 | 0.33 | 0.42 | 0.21 | 0.73 | 0.57 |
| Interest coverage | 6.9 | 5.3 | 4.2 | 6.8 | 7.4 | 5.7 | 5.2 | 3.6 |
| Asset turnover | 0.57 | 1.14 | 1.04 | 1.22 | 1.23 | 1.28 | 0.95 | 1.07 |
| Return ratios | ||||||||
| Return on assets % | 5.3% | -12.9% | 3.8% | 7.2% | 8.5% | 6.3% | 4.7% | 5.1% |
| Return on capital employed % | 15.5% | 17.7% | 13.4% | 16.4% | 18.8% | 16.7% | 14.9% | 16.2% |
| Return on equity % | 9.3% | -27.8% | 8.1% | 13.7% | 17.4% | 10.8% | 10.8% | 10.9% |
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.