Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 29.8% | 30.3% | 33.5% | 27.3% | 27.3% | 28.4% | 26.9% | 27.4% |
| EBITDA margin % | 15.1% | 14.8% | 12.6% | 11.8% | 12.4% | 13.6% | 10.9% | 10.4% |
| EBIT margin % | 12.4% | 12% | 9.2% | 9.4% | 10.5% | 10.3% | 7.5% | 7.1% |
| PAT margin % | 9.1% | 8.8% | 12.1% | 8.8% | 8.1% | 7.7% | 6.6% | 8.4% |
| Working capital | ||||||||
| Receivable days | 11 | 8 | 6 | 12 | 11 | 10 | 11 | 12 |
| Inventory days | 60 | 58 | 78 | 52 | 45 | 79 | 84 | 101 |
| Payable days | — | — | 180 | 151 | 102 | 121 | 115 | 141 |
| NWC days | — | — | -97 | -88 | -46 | -32 | -20 | -29 |
| Leverage | ||||||||
| Current ratio | 0.76 | 0.5 | 1.04 | 1.11 | 1.16 | 1.09 | 1.05 | 0.99 |
| Debt to EBITDA | 2.7 | 4.9 | 6.62 | 3.72 | 3.23 | 2.85 | 3.42 | 4.25 |
| Debt to equity | 0.39 | 0.65 | 0.47 | 0.41 | 0.43 | 0.41 | 0.37 | 0.41 |
| Interest coverage | 5.9 | 4.7 | 2.4 | 6.1 | 5.4 | 5.1 | 5.6 | 8.8 |
| Asset turnover | 0.5 | 0.36 | 0.3 | 0.51 | 0.59 | 0.57 | 0.52 | 0.45 |
| Return ratios | ||||||||
| Return on assets % | 4.5% | 3.2% | 3.7% | 4.4% | 4.8% | 4.4% | 3.4% | 3.8% |
| Return on capital employed % | 11.4% | 9.3% | 6% | 8.3% | 10.1% | 9.8% | 7.6% | 7.6% |
| Return on equity % | 8.7% | 7.9% | 6.7% | 8.3% | 8.8% | 8.2% | 6.5% | 7.7% |
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.