Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 42.8% | 40.5% | 43.1% | 43.8% | 44.1% |
| EBITDA margin % | 11.8% | 11.4% | 14.9% | 17.7% | 15.6% | 14.7% | 14.1% | 14.7% |
| EBIT margin % | 9.4% | 11.4% | 11.7% | 15.1% | 12.9% | 10.8% | 7.8% | 7.8% |
| PAT margin % | 6.3% | 6.2% | 6.2% | 13% | 7.3% | 7.8% | 4.7% | 4.1% |
| Working capital | ||||||||
| Receivable days | 39 | 49 | — | 14 | 25 | 25 | 34 | 31 |
| Inventory days | 121 | 136 | — | 162 | 159 | 173 | 198 | 204 |
| Payable days | — | — | — | 41 | 33 | — | — | 45 |
| NWC days | — | — | — | 135 | 151 | — | — | 189 |
| Leverage | ||||||||
| Current ratio | 2.26 | 2.05 | — | 3 | 3.14 | 4.01 | 2.17 | 2.17 |
| Debt to EBITDA | 0.18 | 0.39 | — | 0.5 | 0.39 | 0.02 | 0.02 | 0.41 |
| Debt to equity | 0.04 | 0.07 | — | 0.12 | 0.09 | 0 | 0 | 0.08 |
| Interest coverage | 5.4 | 5.1 | 10.6 | 13.3 | 7.9 | 7.3 | 3.5 | 3.7 |
| Asset turnover | 1.23 | 1.07 | — | 0.96 | 1.11 | 1.05 | 0.79 | 0.88 |
| Return ratios | ||||||||
| Return on assets % | 7.8% | 6.7% | — | 12.4% | 8.1% | 8.2% | 3.7% | 3.6% |
| Return on capital employed % | 19.8% | 20% | — | 19.4% | 20% | 16.4% | 10.8% | 9.6% |
| Return on equity % | 11.3% | 10.4% | — | 17.9% | 11.1% | 10.6% | 5.4% | 5.1% |
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.