Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 37.2% | 44.3% | 34.1% | 32.1% | 31.7% | 39.9% | 33.1% |
| EBITDA margin % | 14.4% | 16.8% | 22% | 10.8% | 6.5% | 5.7% | 10.8% | 7.6% |
| EBIT margin % | 14.4% | 14.3% | 19.5% | 8.8% | 4.2% | 3.3% | 8.5% | 5.1% |
| PAT margin % | 6.4% | 11.4% | 14.5% | 6.2% | 2.4% | 1.1% | 5.1% | 2.5% |
| Working capital | ||||||||
| Receivable days | — | — | 97 | 82 | 82 | 83 | 74 | 88 |
| Inventory days | — | — | 211 | 183 | 233 | 176 | 234 | 195 |
| Payable days | — | — | 66 | 52 | 55 | 52 | 49 | 43 |
| NWC days | — | — | 242 | 213 | 260 | 207 | 259 | 240 |
| Leverage | ||||||||
| Current ratio | — | — | 2.99 | 2.98 | 2.16 | 2.18 | 1.81 | 1.67 |
| Debt to EBITDA | — | — | 0.5 | 1.49 | 4.15 | 3.6 | 2.8 | 4.17 |
| Debt to equity | — | — | 0.14 | 0.23 | 0.37 | 0.27 | 0.41 | 0.46 |
| Interest coverage | 8.9 | 9.7 | 58.3 | 19.7 | 3.2 | 1.7 | 4.1 | 2.1 |
| Asset turnover | — | — | 0.95 | 1 | 0.86 | 0.9 | 0.86 | 0.89 |
| Return ratios | ||||||||
| Return on assets % | — | — | 13.7% | 6.2% | 2.1% | 1% | 4.3% | 2.2% |
| Return on capital employed % | — | — | 23.8% | 12.8% | 6.1% | 5.1% | 11.6% | 8.5% |
| Return on equity % | — | — | 18.4% | 8.9% | 3.3% | 1.5% | 6.9% | 3.6% |
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.