Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 34.6% | 23.6% | 27.8% | 25.4% | 26.9% | 25.4% |
| EBITDA margin % | 17.5% | 11.5% | 12.6% | 13.4% | 13% | 11.9% |
| EBIT margin % | 14.3% | 9% | 9.9% | 11.4% | 11.1% | 10.1% |
| PAT margin % | 11.5% | 7.4% | 7.3% | 8.3% | 8% | 8.2% |
| Working capital | ||||||
| Receivable days | 73 | 62 | 91 | 92 | 96 | 108 |
| Inventory days | 72 | 48 | 58 | 61 | 62 | 50 |
| Payable days | 12 | — | 93 | 92 | 100 | 102 |
| NWC days | 132 | — | 57 | 61 | 58 | 56 |
| Leverage | ||||||
| Current ratio | 2.44 | 2.63 | 2.05 | 2 | 1.97 | 1.73 |
| Debt to EBITDA | — | 0.53 | 0.53 | 0.34 | 0.16 | 0.61 |
| Debt to equity | — | 0.08 | 0.08 | 0.06 | 0.03 | 0.1 |
| Interest coverage | 36.4 | 42.8 | 21.7 | 14.8 | 17.1 | 15.3 |
| Asset turnover | 1.27 | 1.16 | 0.87 | 0.94 | 0.99 | 0.99 |
| Return ratios | ||||||
| Return on assets % | 14.5% | 8.6% | 6.3% | 7.8% | 7.9% | 8.1% |
| Return on capital employed % | 26.9% | 18.3% | 11.9% | 15.2% | 15.7% | 17.5% |
| Return on equity % | 19.6% | 10.1% | 8.3% | 10.4% | 10.7% | 11.7% |
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.