Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 57.6% | 51.6% | 53.1% | — | — | — |
| EBITDA margin % | 15.4% | 16.2% | 13.9% | 12.2% | 13.8% | 13.2% | 13.7% | 14.3% |
| EBIT margin % | 12.8% | 13.3% | 10.1% | 9.4% | 11.3% | 10.1% | 11% | 11.6% |
| PAT margin % | 6.8% | 7.3% | 4.4% | 6.9% | 7.6% | 7.2% | 7.9% | 7.7% |
| Working capital | ||||||||
| Receivable days | 123 | 111 | 120 | 106 | 91 | 109 | 102 | 108 |
| Inventory days | 78 | 73 | 160 | 125 | 124 | 72 | 73 | 86 |
| Payable days | — | — | 112 | 78 | 75 | — | — | — |
| NWC days | — | — | 168 | 153 | 140 | — | — | — |
| Leverage | ||||||||
| Current ratio | 1.13 | 1.26 | 1.32 | 1.31 | 1.3 | 1.34 | 1.36 | 1.37 |
| Debt to EBITDA | 2.62 | 1.85 | 2.72 | 2.52 | 1.79 | — | — | 1.42 |
| Debt to equity | 1.1 | 0.72 | 0.67 | 0.69 | 0.57 | — | — | 0.41 |
| Interest coverage | 3.4 | 4.2 | 4.3 | 5.7 | 5.9 | 5.1 | 5.5 | 6.3 |
| Asset turnover | 0.99 | 1.11 | 0.86 | 1.09 | 1.2 | 1.07 | 1.12 | 1.05 |
| Return ratios | ||||||||
| Return on assets % | 6.8% | 8.1% | 3.8% | 7.5% | 9.1% | 7.7% | 8.8% | 8.1% |
| Return on capital employed % | 28.8% | 29.4% | 17.1% | 23.4% | 27.3% | 23.1% | 25% | 24% |
| Return on equity % | 18.7% | 17.6% | 7.7% | 15.4% | 17.5% | 14.8% | 16.4% | 15.6% |
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.