Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 19.7% | 23.6% | 22.3% | 22.4% | — |
| EBITDA margin % | 7.2% | 4.8% | 3.6% | 4.6% | 5.7% | 4.5% | 5.5% | 6.3% |
| EBIT margin % | 6.6% | 4.1% | 3% | 4% | 5.2% | 4.1% | 5.2% | 6% |
| PAT margin % | 3.6% | 2.2% | 1.8% | 2.6% | 3.4% | 2.8% | 3.8% | 4.4% |
| Working capital | ||||||||
| Receivable days | 53 | 36 | 37 | 57 | 32 | 36 | 25 | 36 |
| Inventory days | 37 | 58 | 41 | 70 | 79 | 46 | 57 | 45 |
| Payable days | 3 | 1 | 2 | 4 | 2 | 2 | 1 | — |
| NWC days | 88 | 93 | 77 | 123 | 109 | 80 | 82 | — |
| Leverage | ||||||||
| Current ratio | 2.33 | 3.02 | 4.72 | 2.94 | 4.06 | 10.56 | 23.07 | 10.47 |
| Debt to EBITDA | 0.32 | 0.53 | 0.42 | 2.04 | 1.21 | 0.42 | 0 | 0.16 |
| Debt to equity | 0.12 | 0.11 | 0.06 | 0.33 | 0.27 | 0.08 | 0 | 0.03 |
| Interest coverage | 5.8 | 5.3 | 4 | 7.8 | 9.1 | 11.8 | 37.9 | 51.6 |
| Asset turnover | 3.26 | 3.04 | 3.38 | 2.46 | 2.95 | 3.55 | 3.48 | 3.14 |
| Return ratios | ||||||||
| Return on assets % | 11.9% | 6.7% | 6.2% | 6.3% | 10.1% | 10% | 13.1% | 13.9% |
| Return on capital employed % | 41.5% | 18.1% | 12.8% | 14.2% | 20.9% | 16.6% | 19.7% | 22.1% |
| Return on equity % | 19.1% | 9.5% | 7.8% | 8.9% | 13.6% | 11.3% | 13.7% | 15.1% |
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.