Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 47.5% | 47.2% | 46.8% | 48.3% | ||||
Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 47.5% | 47.2% | 46.8% | 48.3% | ||||
| 47% |
| 42.5% |
| 47.9% |
| 49.6% |
| EBITDA margin % | 15% | 17.2% | 18.6% | 19.9% | 19.5% | 13.5% | 16.9% | 17.8% |
| EBIT margin % | 12.1% | 12.5% | 13.1% | 15.8% | 15.8% | 8.6% | 11.4% | 12.7% |
| PAT margin % | 9.1% | 8.6% | 10.7% | 12.6% | 11.9% | 5.8% | 7.3% | 8.8% |
| Working capital | ||||||||
| Receivable days | 122 | — | 135 | 107 | 124 | 127 | 138 | 143 |
| Inventory days | 203 | — | 222 | 226 | 283 | 260 | 321 | 324 |
| Payable days | 143 | — | 153 | 115 | 119 | 85 | 78 | 83 |
| NWC days | 182 | — | 204 | 217 | 288 | 303 | 381 | 384 |
| Leverage | ||||||||
| Current ratio | 2.08 | — | 2.96 | 2.48 | 1.95 | 1.88 | 1.8 | 1.67 |
| Debt to EBITDA | 0.45 | — | 0.3 | 0.38 | 0.93 | 1.52 | 1.58 | 1.47 |
| Debt to equity | 0.09 | — | 0.06 | 0.1 | 0.26 | 0.27 | 0.35 | 0.37 |
| Interest coverage | 10.9 | 6 | 7.5 | 10.7 | 8.1 | 3.2 | 3.3 | 3.9 |
| Asset turnover | 0.83 | — | 0.66 | 0.81 | 0.75 | 0.7 | 0.64 | 0.67 |
| Return ratios | ||||||||
| Return on assets % | 7.6% | — | 7.1% | 10.2% | 8.9% | 4% | 4.6% | 5.8% |
| Return on capital employed % | 19.2% | — | 14.4% | 22.4% | 22.5% | 12.3% | 15.4% | 17.5% |
| Return on equity % | 12.3% | — | 11% | 16.6% | 17.1% | 7.7% | 9.6% | 12.3% |
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.