Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 39.2% | 38.3% | 39.3% | 37.6% | 34.5% | 40.4% | 40.6% | 40.4% |
| EBITDA margin % | 12.3% | 11.6% | 13.3% | 10.5% | 7.4% | 11.7% | 10.7% | 12.5% |
| EBIT margin % | 10% | 8.9% | 10.7% | 7.7% | 4.3% | 7.4% | 6.2% | 8.4% |
| PAT margin % | 7.7% | 8.2% | 9.4% | 6.3% | 3.1% | 5.6% | 4.7% | 6.4% |
| Working capital | ||||||||
| Receivable days | 98 | 73 | 61 | 63 | 61 | 80 | 74 | 78 |
| Inventory days | 242 | 184 | 189 | 211 | 149 | 187 | 173 | 203 |
| Payable days | 192 | 167 | 147 | 169 | 110 | 139 | 125 | 154 |
| NWC days | 148 | 89 | 102 | 104 | 100 | 128 | 123 | 126 |
| Leverage | ||||||||
| Current ratio | 1.73 | 1.68 | 1.81 | 1.67 | 1.66 | 1.75 | 1.93 | 1.89 |
| Debt to EBITDA | 0.33 | 0.24 | 0.13 | 0.21 | 0.63 | 0.43 | 0.22 | 0.02 |
| Debt to equity | 0.05 | 0.04 | 0.03 | 0.03 | 0.08 | 0.07 | 0.03 | 0 |
| Interest coverage | 39.7 | 38.3 | 57.5 | 47.4 | 11.4 | 11.8 | 16.5 | 28.6 |
| Asset turnover | 0.77 | 0.92 | 0.94 | 0.91 | 1.06 | 0.88 | 0.9 | 0.87 |
| Return ratios | ||||||||
| Return on assets % | 6% | 7.6% | 8.8% | 5.7% | 3.3% | 4.9% | 4.2% | 5.5% |
| Return on capital employed % | 14.8% | 16.5% | 18.9% | 13.2% | 7.8% | 11.2% | 9.9% | 13.9% |
| Return on equity % | 10% | 13.2% | 14.4% | 9.7% | 5.3% | 8.1% | 6.6% | 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.