Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 54.3% | 54.9% | 55.7% | 55.5% | ||||
| 55.3% |
| 59.8% |
| 63.2% |
| 55.7% |
| EBITDA margin % | 18.7% | 19.5% | 21.7% | 13.4% | 16.2% | 15.2% | 14.6% | 12.2% |
| EBIT margin % | 18.1% | 19% | 20.8% | 12.3% | 15.2% | 14.2% | 13.5% | 11.3% |
| PAT margin % | 16.6% | 18% | 18.1% | -24.2% | 11.7% | 12.1% | 11.6% | 10.3% |
| Working capital | ||||||||
| Receivable days | — | — | 130 | 115 | 118 | 103 | 89 | 71 |
| Inventory days | — | — | 607 | 649 | 564 | 626 | 905 | 848 |
| Payable days | — | — | 94 | 162 | 75 | 115 | 215 | 249 |
| NWC days | — | — | 643 | 602 | 606 | 615 | 779 | 670 |
| Leverage | ||||||||
| Current ratio | — | — | 3.1 | 2.39 | 2.41 | 2.18 | 1.87 | 1.97 |
| Debt to EBITDA | — | — | 1.51 | 2.5 | 2.15 | 2.15 | 2.1 | 2.32 |
| Debt to equity | — | — | 0.16 | 0.17 | 0.18 | 0.18 | 0.17 | 0.18 |
| Interest coverage | 8.5 | 8.4 | 7.4 | 3.4 | 4.6 | 5.2 | 5.6 | 4.2 |
| Asset turnover | — | — | 0.39 | 0.38 | 0.38 | 0.38 | 0.36 | 0.4 |
| Return ratios | ||||||||
| Return on assets % | — | — | 7% | -9.1% | 4.4% | 4.6% | 4.1% | 4.1% |
| Return on capital employed % | — | — | 10.6% | 6.2% | 8.3% | 8% | 8.5% | 8.4% |
| Return on equity % | — | — | 9.1% | -12.4% | 6.1% | 6.6% | 6.5% | 6.4% |
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.