Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 41.1% | 45.1% | 44.2% | 39.1% | 39.8% | 42.2% | 43% | 43.3% |
| EBITDA margin % | 9% | 12.7% | 12.7% | 8.5% | 9.8% | 8.9% | 8.2% | 8.4% |
| EBIT margin % | 6.8% | 8.3% | 7.8% | 4.6% | 6.1% | 5.2% | 4.5% | 4.5% |
| PAT margin % | 4.8% | 5.9% | 5.5% | 3.2% | 4% | 3.4% | 2.8% | 2.9% |
| Working capital | ||||||||
| Receivable days | 47 | 46 | 50 | — | 50 | 53 | 51 | 45 |
| Inventory days | 103 | 118 | 157 | — | 126 | 117 | 133 | 110 |
| Payable days | — | — | — | — | 43 | 42 | 58 | 47 |
| NWC days | — | — | — | — | 133 | 128 | 126 | 108 |
| Leverage | ||||||||
| Current ratio | 3.53 | 3.06 | 3.01 | — | 3.15 | 2.72 | 2.23 | 2.25 |
| Debt to EBITDA | 0.25 | 0.18 | 0.19 | — | 0.63 | 0.89 | 1.4 | 0.83 |
| Debt to equity | 0.06 | 0.05 | 0.04 | — | 0.15 | 0.19 | 0.27 | 0.17 |
| Interest coverage | 11 | 7.1 | 7 | 4.7 | 5.5 | 4.9 | 4 | 4.4 |
| Asset turnover | 1.89 | 1.45 | 1.18 | — | 1.54 | 1.47 | 1.33 | 1.54 |
| Return ratios | ||||||||
| Return on assets % | 9.1% | 8.5% | 6.5% | — | 6.1% | 5% | 3.8% | 4.4% |
| Return on capital employed % | 18.6% | 16.7% | 12.9% | — | 12.2% | 10.8% | 9.2% | 10.6% |
| Return on equity % | 12.6% | 12.8% | 9.8% | — | 9.7% | 8.1% | 6.6% | 7.2% |
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.