Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 70.3% | 32.5% | 39.5% | 29.5% | ||||
| 24.3% |
| 30.5% |
| 30.7% |
| 29.4% |
| EBITDA margin % | 17.7% | 14.3% | 19.5% | 14.7% | 12.5% | 17% | 16.9% | 12.8% |
| EBIT margin % | 15.8% | 11.5% | 15.4% | 12% | 10.2% | 14.4% | 14.3% | 9.8% |
| PAT margin % | 11% | 8.7% | 11.7% | 9.6% | 7.6% | 9.4% | 7.6% | 4.2% |
| Working capital | ||||||||
| Receivable days | 68 | 66 | 97 | 91 | 69 | 83 | 78 | 52 |
| Inventory days | 160 | 54 | 101 | 70 | 40 | 52 | 69 | 60 |
| Payable days | 177 | 70 | 134 | 106 | 78 | 133 | 109 | 92 |
| NWC days | 51 | 51 | 64 | 55 | 31 | 2 | 38 | 20 |
| Leverage | ||||||||
| Current ratio | 1.15 | 1.07 | 1.32 | 1.4 | 1.04 | 0.94 | 0.95 | 0.78 |
| Debt to EBITDA | 1.17 | 1.17 | 1.17 | 1.04 | 0.94 | 2.97 | 3.26 | 3.54 |
| Debt to equity | 0.44 | 0.32 | 0.31 | 0.26 | 0.25 | 0.87 | 0.87 | 0.62 |
| Interest coverage | 15.8 | 8.6 | 12.5 | 19.3 | 11.9 | 6.7 | 3.2 | 2.3 |
| Asset turnover | 1.05 | 0.98 | 0.72 | 0.94 | 1.17 | 0.69 | 0.66 | 0.68 |
| Return ratios | ||||||||
| Return on assets % | 11.5% | 8.6% | 8.4% | 9% | 8.9% | 6.5% | 5.1% | 2.9% |
| Return on capital employed % | 29.2% | 17.8% | 17.4% | 19.3% | 19.5% | 18.3% | 14.4% | 9.4% |
| Return on equity % | 23.6% | 16.8% | 16.2% | 16.4% | 15.7% | 16.3% | 12.1% | 5.8% |
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.