Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 31.7% | 30.9% | 29% | 29.4% | 25.5% | 27.9% | 31.2% | 28.4% |
| EBITDA margin % | 14.8% | 15.7% | 13.7% | 12.5% | 13.5% | 16.6% | 19% | 12.6% |
| EBIT margin % | 11.8% | 13.1% | 11.4% | 10.4% | 12% | 15.2% | 17.4% | 10.5% |
| PAT margin % | 10.5% | 9.4% | 7.4% | 7.1% | 8.7% | 11% | 12.8% | 7.4% |
| Working capital | ||||||||
| Receivable days | 73 | — | 62 | 74 | 99 | 92 | 114 | 131 |
| Inventory days | 70 | — | 37 | 39 | 53 | 50 | 83 | 84 |
| Payable days | — | — | 75 | 42 | 47 | 61 | 87 | 86 |
| NWC days | — | — | 24 | 71 | 104 | 81 | 110 | 128 |
| Leverage | ||||||||
| Current ratio | — | — | 2.16 | 2.72 | 2.43 | 2.21 | 2.36 | 2.68 |
| Debt to EBITDA | 0.62 | — | 0.59 | 0.27 | 0.47 | 0.3 | 0.38 | 1.27 |
| Debt to equity | 0.13 | — | 0.14 | 0.06 | 0.11 | 0.08 | 0.07 | 0.13 |
| Interest coverage | 6.4 | 6.3 | 8.2 | 8.9 | 13.8 | 18.3 | 13.4 | 5.9 |
| Asset turnover | 0.83 | 3.84 | 1.01 | 1.19 | 1.16 | 1.06 | 0.68 | 0.57 |
| Return ratios | ||||||||
| Return on assets % | 8.7% | 36.2% | 7.5% | 8.4% | 10.1% | 11.7% | 8.7% | 4.2% |
| Return on capital employed % | 12.6% | — | 17.7% | 18.2% | 19.9% | 23.8% | 17.5% | 8.8% |
| Return on equity % | 15.4% | — | 12.4% | 13.4% | 15.5% | 17.8% | 12.9% | 5.9% |
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.