Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 15.2% | 12.6% | 23.5% | 23.6% | ||||
| 22.2% |
| 16.6% |
| 17.5% |
| 17% |
| EBITDA margin % | 7.3% | 4.5% | 14.4% | 15% | 14.8% | 11% | 9.5% | 10% |
| EBIT margin % | 6.9% | 3.9% | 14% | 14.7% | 14.4% | 10.7% | 9% | 9.6% |
| PAT margin % | 3.5% | 2.2% | 10.3% | 11.1% | 10.6% | 7.6% | 6.6% | 7.3% |
| Working capital | ||||||||
| Receivable days | 89 | 86 | 89 | 63 | 67 | 80 | 81 | 88 |
| Inventory days | 124 | 99 | 103 | 136 | 76 | 92 | 81 | 104 |
| Payable days | 112 | 113 | 111 | 130 | 68 | 57 | 46 | 61 |
| NWC days | 102 | 71 | 81 | 69 | 75 | 114 | 117 | 131 |
| Leverage | ||||||||
| Current ratio | 1.52 | 1.9 | 2.02 | 1.96 | 3 | 3.15 | 4.09 | 3.02 |
| Debt to EBITDA | 1.33 | 0.02 | 0.04 | 0 | 0 | 0.13 | 0.01 | 0.26 |
| Debt to equity | 0.28 | 0 | 0.02 | 0 | 0 | 0.03 | 0 | 0.05 |
| Interest coverage | 3.9 | 2.6 | 29.9 | 54.6 | 25 | 11.6 | 11.9 | 24.3 |
| Asset turnover | 1.38 | 1.31 | 1.48 | 1.41 | 1.64 | 1.52 | 1.55 | 1.39 |
| Return ratios | ||||||||
| Return on assets % | 4.9% | 2.9% | 15.2% | 15.7% | 17.4% | 11.6% | 10.2% | 10.2% |
| Return on capital employed % | 21% | 9% | 38.5% | 39.8% | 35.1% | 23.5% | 19% | 20% |
| Return on equity % | 10.2% | 4.8% | 24.7% | 26.5% | 23.4% | 15.3% | 12.5% | 13.6% |
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.