Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 44.5% | 45.9% | 40.5% | 36.5% | 37.1% | 36.7% | 36.5% | 35.2% |
| EBITDA margin % | 16.8% | 16% | 12% | 11.3% | 11.1% | 12.6% | 11.9% | 13.1% |
| EBIT margin % | 13.9% | 11.8% | 6.6% | 7.4% | 8% | 9.1% | 8.3% | 9.9% |
| PAT margin % | 10.7% | 13.1% | 14.2% | 21.8% | 10.5% | 10.4% | 15.5% | 14.5% |
| Working capital | ||||||||
| Receivable days | 39 | 46 | 52 | 77 | 73 | 63 | 63 | 61 |
| Inventory days | 91 | 98 | 93 | 74 | 72 | 65 | 51 | 52 |
| Payable days | — | — | 104 | 84 | 70 | 67 | 61 | 58 |
| NWC days | — | — | 40 | 66 | 75 | 60 | 53 | 54 |
| Leverage | ||||||||
| Current ratio | 1.72 | 1.46 | 0.77 | 1.49 | 1.28 | 1.46 | 1.05 | 1.02 |
| Debt to EBITDA | 0.89 | 1.29 | 10.85 | 8.88 | 6.86 | 3.84 | 4.18 | 4.93 |
| Debt to equity | 0.18 | 0.23 | 0.71 | 0.17 | 0.18 | 0.14 | 0.13 | 0.21 |
| Interest coverage | 70.3 | 39 | 3.9 | 7.9 | 7.3 | 5.4 | 6.1 | 8.3 |
| Asset turnover | 0.84 | 0.75 | 0.27 | 0.14 | 0.19 | 0.24 | 0.23 | 0.24 |
| Return ratios | ||||||||
| Return on assets % | 9% | 9.8% | 3.8% | 3.1% | 2% | 2.5% | 3.5% | 3.6% |
| Return on capital employed % | 16.5% | 15.6% | 3.8% | 4.7% | 3% | 3.9% | 5.5% | 5.4% |
| Return on equity % | 12.7% | 14.4% | 7.7% | 3.8% | 2.5% | 3% | 4.2% | 4.7% |
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.