Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 41.3% | 43.1% | 40.4% | 40.3% | 43.2% | 43.7% | 45.9% |
| EBITDA margin % | 18.1% | 18.3% | 20% | 19.1% | 18.6% | 19.1% | 18.1% | 19.5% |
| EBIT margin % | 14.4% | 13.9% | 15.5% | 14.9% | 14.4% | 13.6% | 11.9% | 12.8% |
| PAT margin % | 6.1% | 8.7% | 10% | 10.1% | 11% | 9.5% | 7.8% | 8.2% |
| Working capital | ||||||||
| Receivable days | 61 | — | 69 | 83 | 62 | 71 | 63 | 72 |
| Inventory days | 50 | — | 95 | 93 | 71 | 95 | 107 | 119 |
| Payable days | — | — | 43 | 27 | 28 | 31 | 37 | 62 |
| NWC days | — | — | 120 | 148 | 105 | 135 | 133 | 130 |
| Leverage | ||||||||
| Current ratio | — | — | 1.15 | 3.72 | 2.43 | 1.91 | 1.6 | 1.49 |
| Debt to EBITDA | 1.24 | — | 1.13 | 0.36 | 0.35 | 0.95 | 1.24 | 1.25 |
| Debt to equity | 0.47 | — | 0.42 | 0.1 | 0.08 | 0.21 | 0.28 | 0.31 |
| Interest coverage | 8.4 | 6.1 | 7.6 | 10.3 | 27.5 | 13.1 | 6.8 | 6.5 |
| Asset turnover | 1.15 | 2.2 | 1.1 | 1.1 | 1.05 | 0.85 | 0.83 | 0.84 |
| Return ratios | ||||||||
| Return on assets % | 7% | 19.2% | 11% | 11.1% | 11.6% | 8.1% | 6.5% | 6.9% |
| Return on capital employed % | — | — | 26.1% | 24.3% | 19.4% | 15.1% | 13.4% | 14.7% |
| Return on equity % | 12.6% | — | 18.8% | 13.9% | 14.4% | 11.2% | 9.5% | 10.6% |
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.