Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 49.3% | 51.1% | 50.2% | 50.7% | 44.6% | 43.1% | 42.2% | 45.8% |
| EBITDA margin % | 11.5% | 8.9% | 15.1% | 14.2% | 9.3% | 8% | 8.1% | 9.6% |
| EBIT margin % | 8.8% | 5.7% | 12.3% | 11.7% | 6.9% | 5.3% | 5.7% | 7.3% |
| PAT margin % | 8.2% | 7.9% | 11.1% | 9% | 7.3% | 4.6% | 6.4% | 7.7% |
| Working capital | ||||||||
| Receivable days | 38 | 35 | 32 | 34 | 17 | 19 | 26 | 22 |
| Inventory days | 201 | 286 | 244 | 230 | 280 | 269 | 244 | 249 |
| Payable days | — | — | 49 | 19 | 11 | 13 | 18 | 11 |
| NWC days | — | — | 228 | 245 | 285 | 275 | 253 | 260 |
| Leverage | ||||||||
| Current ratio | 1.23 | 1.18 | 1.38 | 1.36 | 1.48 | 1.6 | 1.81 | 2.15 |
| Debt to EBITDA | 1.52 | 2.84 | 1.01 | 1.34 | 2.52 | 2.33 | 2.28 | 1.22 |
| Debt to equity | 0.21 | 0.26 | 0.17 | 0.22 | 0.28 | 0.21 | 0.2 | 0.13 |
| Interest coverage | 7.5 | 6.9 | 17.9 | 19.8 | 6.3 | 4.2 | 7.9 | 8.9 |
| Asset turnover | 0.8 | 0.65 | 0.75 | 0.79 | 0.79 | 0.78 | 0.79 | 0.82 |
| Return ratios | ||||||||
| Return on assets % | 6.5% | 5.2% | 8.3% | 7.1% | 5.8% | 3.6% | 5% | 6.3% |
| Return on capital employed % | 14.9% | 12.6% | 18.9% | 16.4% | 10.5% | 8.5% | 10% | 11% |
| Return on equity % | 10% | 8.3% | 12.3% | 10.6% | 8.7% | 5.1% | 7% | 8.3% |
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.