Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 45.1% | 50.2% | 53.2% | 55.6% | 59.9% | 63% | 60.2% | 62.7% |
| EBITDA margin % | 8.7% | 13.3% | 15.6% | 15% | 22.8% | 29.6% | 21.8% | 28.3% |
| EBIT margin % | 4.8% | 9.2% | 11.4% | 9.8% | 18.3% | 25.8% | 17.4% | 23.8% |
| PAT margin % | 2.4% | 2.1% | 8.6% | 6.7% | 13.7% | 19.2% | 17.6% | 18% |
| Working capital | ||||||||
| Receivable days | — | — | 85 | 90 | 111 | 87 | 78 | 98 |
| Inventory days | — | — | 206 | 229 | 213 | 222 | 240 | 247 |
| Payable days | — | — | 130 | 106 | 136 | 126 | 162 | 135 |
| NWC days | — | — | 160 | 213 | 188 | 184 | 156 | 210 |
| Leverage | ||||||||
| Current ratio | — | — | 1.47 | 1.57 | 1.71 | 2.12 | 2.41 | 2.06 |
| Debt to EBITDA | — | — | 1.16 | 1.62 | 0.45 | 0.18 | 0.42 | 0.34 |
| Debt to equity | — | — | 0.22 | 0.28 | 0.12 | 0.06 | 0.09 | 0.11 |
| Interest coverage | 2.3 | 3.4 | 6.9 | 7.1 | 17.5 | 29.6 | 33.4 | 21.4 |
| Asset turnover | — | — | 0.71 | 0.69 | 0.75 | 0.85 | 0.68 | 0.69 |
| Return ratios | ||||||||
| Return on assets % | — | — | 6.1% | 4.6% | 10.3% | 16.4% | 11.9% | 12.4% |
| Return on capital employed % | — | — | 12.9% | 9.7% | 21.3% | 32.8% | 17.9% | 26.1% |
| Return on equity % | — | — | 10.3% | 7.6% | 16.5% | 23.5% | 17.1% | 19.5% |
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.