Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 61.2% | 56.6% | 55.5% | 42.4% | 34.1% | 42.2% | 48% | 43.7% |
| EBITDA margin % | 12.6% | 12.4% | 10.2% | 6.2% | 6.9% | 8.2% | 6.9% | 7.3% |
| EBIT margin % | 9.1% | 9.4% | 6.6% | 2.1% | 3.5% | 5% | 3.6% | 3.7% |
| PAT margin % | 5.2% | 5.9% | 3.8% | 2.7% | 4.5% | 5.4% | 2.9% | 4.6% |
| Working capital | ||||||||
| Receivable days | — | — | 126 | 106 | 89 | 91 | 85 | 69 |
| Inventory days | — | — | 208 | 146 | 111 | 155 | 195 | 162 |
| Payable days | — | — | 100 | 65 | 51 | 87 | 68 | 66 |
| NWC days | — | — | 234 | 187 | 149 | 159 | 212 | 165 |
| Leverage | ||||||||
| Current ratio | — | — | 2.62 | 2.66 | 4.07 | 2.35 | 2.66 | 3.17 |
| Debt to EBITDA | — | — | 0.99 | 2.36 | 0.75 | 2.21 | 2 | 0.82 |
| Debt to equity | — | — | 0.13 | 0.15 | 0.06 | 0.21 | 0.16 | 0.08 |
| Interest coverage | 3.2 | 4.2 | 3.7 | 4 | 5.5 | 6.4 | 3.3 | 8.8 |
| Asset turnover | — | — | 0.89 | 0.77 | 0.88 | 0.8 | 0.88 | 1.06 |
| Return ratios | ||||||||
| Return on assets % | — | — | 3.3% | 2.1% | 3.9% | 4.3% | 2.6% | 4.9% |
| Return on capital employed % | — | — | 8.5% | 4.6% | 7.2% | 7.4% | 6.2% | 9.6% |
| Return on equity % | — | — | 4.7% | 2.8% | 4.9% | 6.3% | 3.4% | 6.3% |
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.