Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 40.6% | — | 37.6% | 40.2% | 36.6% | 38.1% | 37.4% | 33.7% |
| EBITDA margin % | 17.1% | 17.4% | 15.2% | 19.2% | 14.7% | 14.9% | 13.3% | 10.3% |
| EBIT margin % | 16% | 15.8% | 13% | 17.5% | 13% | 12.5% | 10.6% | 7.8% |
| PAT margin % | 12% | 12.5% | 10% | 13.5% | -17.2% | -2% | 7.7% | -13.9% |
| Working capital | ||||||||
| Receivable days | — | 174 | 87 | 90 | 75 | 91 | 77 | 63 |
| Inventory days | — | 176 | 151 | 186 | 147 | 129 | 155 | 138 |
| Payable days | — | 149 | 149 | 161 | 149 | 103 | 107 | 99 |
| NWC days | — | 201 | 90 | 114 | 72 | 117 | 125 | 102 |
| Leverage | ||||||||
| Current ratio | — | 2.76 | 2.43 | 2.2 | 1.11 | 2.52 | 2.97 | 2.81 |
| Debt to EBITDA | — | 0.54 | 0.29 | 0.15 | 1.66 | 0.17 | 0 | 0.15 |
| Debt to equity | — | 0.09 | 0.07 | 0.06 | 0.21 | 0.02 | 0 | 0.01 |
| Interest coverage | — | — | 29.4 | 164.4 | 16.3 | 22.4 | 29.1 | 42.4 |
| Asset turnover | — | 0.66 | 1.09 | 1.19 | 0.56 | 0.61 | 0.61 | 0.77 |
| Return ratios | ||||||||
| Return on assets % | — | 8.3% | 10.8% | 16% | -9.6% | -1.2% | 4.7% | -10.8% |
| Return on capital employed % | — | 15.3% | 23.3% | 37% | 16.7% | 10.4% | 7.7% | 6.9% |
| Return on equity % | — | 12.4% | 16.9% | 26.1% | -14.6% | -1.4% | 5.5% | -13.2% |
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.