Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 83.3% | 86% | 85.5% | 87.6% | 85.6% | 84.6% | 81.7% | 81.6% |
| EBITDA margin % | 13% | 12.1% | 2.6% | 10.4% | 11.3% | 11.7% | 11% | 10.2% |
| EBIT margin % | 10.8% | 10.3% | 0.7% | 9% | 10.1% | 10.7% | 9.9% | 8.8% |
| PAT margin % | 5.5% | 5.4% | -2% | 5.4% | 5.9% | 5.9% | 6.8% | 6.3% |
| Working capital | ||||||||
| Receivable days | 82 | — | 101 | 89 | 92 | 87 | 116 | 116 |
| Inventory days | 100 | — | 153 | 141 | 96 | 59 | 73 | 92 |
| Payable days | — | — | 699 | 596 | 536 | 398 | 411 | 446 |
| NWC days | — | — | -444 | -366 | -349 | -253 | -223 | -238 |
| Leverage | ||||||||
| Current ratio | 1.54 | — | 1.42 | 1.54 | 1.58 | 2.19 | 1.93 | 1.95 |
| Debt to EBITDA | 1.44 | — | 11.25 | 1.86 | 1.19 | 0.74 | 1.28 | 1 |
| Debt to equity | 0.42 | — | 0.6 | 0.51 | 0.39 | 0.19 | 0.3 | 0.2 |
| Interest coverage | 4 | 3.1 | 0.4 | 3.5 | 4.2 | 5.1 | 5.9 | 4.8 |
| Asset turnover | 0.97 | — | 0.82 | 1.06 | 1.19 | 1.19 | 1.02 | 0.93 |
| Return ratios | ||||||||
| Return on assets % | 5.4% | — | -1.6% | 5.7% | 7.1% | 7.1% | 6.9% | 5.9% |
| Return on capital employed % | 23.7% | — | 3.4% | 24.6% | 28.4% | 26.3% | 22.3% | 17.9% |
| Return on equity % | 12.3% | — | -4.1% | 14.2% | 17.1% | 13.3% | 14.3% | 12.5% |
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.