Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 48.7% | 54.4% | 49.9% | 54.9% | 51.9% | 50.8% | 48.8% | 47.3% |
| EBITDA margin % | 21% | 18.3% | 17.9% | 23.1% | 22.3% | 22.8% | 13.5% | 15.1% |
| EBIT margin % | 14.3% | 7.5% | 8.8% | 15.7% | 15.6% | 15.7% | 6.8% | 7.5% |
| PAT margin % | 6.6% | 0.9% | 2.2% | 9% | 7.9% | 9.3% | 11.1% | 2.3% |
| Working capital | ||||||||
| Receivable days | 94 | 101 | 159 | 140 | 88 | 79 | 95 | 84 |
| Inventory days | 131 | 257 | 243 | 242 | 220 | 213 | 213 | 199 |
| Payable days | 104 | 149 | 243 | 203 | 194 | 200 | 190 | 189 |
| NWC days | 120 | 209 | 159 | 178 | 114 | 93 | 118 | 94 |
| Leverage | ||||||||
| Current ratio | 1.13 | 0.99 | 1.08 | 1.29 | 1.27 | 1.58 | 1.11 | 1.21 |
| Debt to EBITDA | 2.08 | 4.14 | 5.24 | 2.99 | 1.86 | 1.01 | 3.24 | 3.13 |
| Debt to equity | 0.91 | 0.96 | 1.35 | 1.44 | 0.94 | 0.3 | 0.53 | 0.54 |
| Interest coverage | 3.3 | 1.2 | 1.5 | 3.9 | 4.1 | 4.2 | 1.8 | 1.7 |
| Asset turnover | 0.84 | 0.51 | 0.48 | 0.67 | 0.83 | 0.73 | 0.62 | 0.59 |
| Return ratios | ||||||||
| Return on assets % | 5.6% | 0.4% | 1% | 6% | 6.5% | 6.8% | 6.9% | 1.4% |
| Return on capital employed % | 18.6% | 6.3% | 7.7% | 19.4% | 21.7% | 20.1% | 7.3% | 7.2% |
| Return on equity % | 13.7% | 1.1% | 3.1% | 18.9% | 17.8% | 12.2% | 13.3% | 2.6% |
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.