Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 41.9% | 44.5% | 46.7% | 44.8% | 40.9% | 41.9% | 42.9% | 46.5% |
| EBITDA margin % | 25.2% | 27.7% | 29% | 29.1% | 26.4% | 26.7% | 26.7% | 27.1% |
| EBIT margin % | 17.2% | 18.9% | 18.5% | 19.5% | 18.4% | 18.1% | 17.8% | 17.4% |
| PAT margin % | 13% | 10.4% | 13.9% | 13.9% | 10.5% | 11.2% | 11.6% | 14% |
| Working capital | ||||||||
| Receivable days | — | — | 85 | 104 | 55 | 62 | 62 | 68 |
| Inventory days | — | — | 63 | 55 | 52 | 67 | 67 | 70 |
| Payable days | — | — | 3 | 48 | 45 | 37 | 36 | 37 |
| NWC days | — | — | 145 | 110 | 61 | 92 | 93 | 101 |
| Leverage | ||||||||
| Current ratio | — | — | 0.82 | 0.78 | 0.91 | 0.92 | 0.96 | 0.94 |
| Debt to EBITDA | — | — | 6.03 | 5.7 | 4.28 | 4.29 | 4.08 | 4.24 |
| Debt to equity | — | — | 1.46 | 1.5 | 1.33 | 1.24 | 1.15 | 1.09 |
| Interest coverage | 3.7 | 3.1 | 3 | 3.6 | 3.4 | 3.2 | 3.1 | 3.2 |
| Asset turnover | — | — | 0.29 | 0.31 | 0.43 | 0.41 | 0.42 | 0.4 |
| Return ratios | ||||||||
| Return on assets % | — | — | 4% | 4.2% | 4.5% | 4.6% | 4.8% | 5.6% |
| Return on capital employed % | — | — | 8% | 9% | 11.1% | 10.5% | 10.8% | 10.1% |
| Return on equity % | — | — | 11.6% | 12.5% | 12.4% | 12.1% | 12.2% | 13.2% |
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.