Standalone figures
| Ratio | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 17.3% | — | 19.7% | 20.1% | ||||
| 16.9% |
| 20.9% |
| 21% |
| 19.1% |
| EBITDA margin % | 6.8% | 4.3% | 8.1% | 11.4% | 8.9% | 12.4% | 10.9% | 6.5% |
| EBIT margin % | 3.9% | 4.3% | 6% | 9.8% | 6.7% | 9.5% | 8% | 4.5% |
| PAT margin % | 2.7% | 1.3% | 4.8% | 7.1% | 5.4% | 7.1% | 8.9% | 5% |
| Working capital | ||||||||
| Receivable days | — | — | 86 | 76 | 42 | 69 | 61 | 71 |
| Inventory days | — | — | 25 | 18 | 28 | 32 | 61 | 55 |
| Payable days | — | — | 30 | 31 | 30 | 37 | 25 | 25 |
| NWC days | — | — | 81 | 64 | 40 | 64 | 96 | 101 |
| Leverage | ||||||||
| Current ratio | — | — | 1.36 | 1.49 | 2.12 | 2.45 | 2.2 | 1.98 |
| Debt to EBITDA | — | — | 3.17 | 1.5 | 1.1 | 1 | 1.84 | 1.96 |
| Debt to equity | — | — | 1.03 | 0.79 | 0.34 | 0.2 | 0.26 | 0.19 |
| Interest coverage | 1.9 | 3.2 | 3.7 | 8.5 | 6.1 | 8.5 | 9.4 | 7.9 |
| Asset turnover | — | — | 1.48 | 1.93 | 1.95 | 1.17 | 0.95 | 1.14 |
| Return ratios | ||||||||
| Return on assets % | — | — | 7.1% | 13.8% | 10.5% | 8.4% | 8.4% | 5.7% |
| Return on capital employed % | — | — | 19.3% | 38% | 21.7% | 19.5% | 16.6% | 11.3% |
| Return on equity % | — | — | 19.3% | 32.9% | 18.8% | 11.6% | 11.4% | 7.3% |
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.