Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 69.8% | 69.8% | 67.5% | 68% | 72.1% | 72.1% |
| EBITDA margin % | 8.3% | 6.9% | 11.2% | 5.1% | 5.5% | 7.9% | 7.4% | 13.3% |
| EBIT margin % | 6% | 4.5% | 8.5% | 3.1% | 3.4% | 6% | 5.7% | 12.1% |
| PAT margin % | 5.8% | 5.2% | 9.1% | 5% | 6.6% | 8.2% | 7.8% | 11.5% |
| Working capital | ||||||||
| Receivable days | — | — | 88 | 84 | 89 | 93 | 88 | 77 |
| Inventory days | — | — | 353 | 340 | 306 | 271 | 324 | 283 |
| Payable days | — | — | 130 | 110 | 83 | 85 | 99 | 99 |
| NWC days | — | — | 310 | 313 | 312 | 279 | 314 | 261 |
| Leverage | ||||||||
| Current ratio | — | — | 2.5 | 2.81 | 4 | 3.86 | 4 | 4.02 |
| Debt to EBITDA | — | — | 0.54 | 1.15 | 0.34 | 0.54 | 0.52 | 0.63 |
| Debt to equity | — | — | 0.07 | 0.07 | 0.02 | 0.04 | 0.04 | 0.11 |
| Interest coverage | 3.1 | 2.5 | 4.9 | 5 | 7.3 | 11.3 | 10.2 | 21.1 |
| Asset turnover | — | — | 0.79 | 0.86 | 0.85 | 0.8 | 0.84 | 0.95 |
| Return ratios | ||||||||
| Return on assets % | — | — | 7.2% | 4.3% | 5.6% | 6.6% | 6.5% | 11% |
| Return on capital employed % | — | — | 11.5% | 6.4% | 7.1% | 8.4% | 8.6% | 19.1% |
| Return on equity % | — | — | 10.4% | 6.1% | 7.2% | 8.5% | 8.4% | 15.1% |
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.