Standalone figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 66.2% | 67.5% | 63.9% | 53.1% | 48.1% | 49.5% | 47.6% |
| EBITDA margin % | 27.1% | 33.7% | 29.3% | 26.9% | 19.3% | 17.9% | 19.5% |
| EBIT margin % | 21.5% | 28.6% | 24.9% | 23.7% | 15.3% | 13.1% | 15.6% |
| PAT margin % | 14.7% | 18.7% | 18.9% | 18.2% | 9.7% | 8% | 10.9% |
| Working capital | |||||||
| Receivable days | 105 | 114 | 154 | 132 | 92 | 113 | 140 |
| Inventory days | 382 | 467 | 535 | 524 | 421 | 369 | 397 |
| Payable days | — | 158 | 179 | 296 | 85 | 112 | 119 |
| NWC days | — | 423 | 510 | 360 | 428 | 370 | 419 |
| Leverage | |||||||
| Current ratio | 1.51 | 4.46 | 2.8 | 2.04 | 2.75 | 2.15 | 1.56 |
| Debt to EBITDA | 0.63 | 0.2 | 1.02 | 0.93 | 1.7 | 1.47 | 2.16 |
| Debt to equity | 0.16 | 0.04 | 0.18 | 0.23 | 0.28 | 0.24 | 0.45 |
| Interest coverage | 10.6 | 10.3 | 13.4 | 10.7 | 4.3 | 4.3 | 5.5 |
| Asset turnover | 0.62 | 0.42 | 0.44 | 0.54 | 0.58 | 0.6 | 0.5 |
| Return ratios | |||||||
| Return on assets % | 9% | 7.9% | 8.4% | 9.8% | 5.6% | 4.8% | 5.5% |
| Return on capital employed % | 21.6% | 19.7% | 16.8% | 24.2% | 12.5% | 11.5% | 17.2% |
| Return on equity % | 13.9% | 9.7% | 11.7% | 16.8% | 8.3% | 7.4% | 11.5% |
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.