Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 73.3% | 74.7% | 71.8% | 71.3% | 65.4% | 72.4% | 68.8% | 65.2% |
| EBITDA margin % | 20.8% | 24.6% | 31.1% | 27.5% | 19.9% | 23.4% | 18.7% | 21% |
| EBIT margin % | 13.7% | 18% | 24.2% | 22.9% | 16.5% | 19.8% | 14% | 14.2% |
| PAT margin % | 9.2% | 15.1% | 21% | 15.6% | 13.6% | 18.8% | 17.4% | 12.2% |
| Working capital | ||||||||
| Receivable days | 32 | 26 | 46 | 32 | 38 | 32 | 41 | 44 |
| Inventory days | 263 | 350 | 330 | 232 | 208 | 321 | 396 | 253 |
| Payable days | 8 | 13 | 193 | 168 | 102 | 125 | 150 | 114 |
| NWC days | 287 | 364 | 183 | 96 | 145 | 228 | 287 | 183 |
| Leverage | ||||||||
| Current ratio | 1.08 | 0.91 | 0.85 | 0.84 | 1.6 | 3.43 | 2.9 | 2.1 |
| Debt to EBITDA | 9.31 | 8.42 | 10.3 | 5.1 | 4.65 | 3.84 | 7.21 | 4.94 |
| Debt to equity | 0.82 | 0.8 | 0.79 | 0.53 | 0.43 | 0.35 | 0.51 | 0.55 |
| Interest coverage | 3.7 | 8.4 | 5.1 | 4.8 | 11.6 | 13 | 12.3 | 4.4 |
| Asset turnover | 0.19 | 0.18 | 0.12 | 0.21 | 0.27 | 0.27 | 0.23 | 0.3 |
| Return ratios | ||||||||
| Return on assets % | 1.8% | 2.7% | 2.5% | 3.2% | 3.7% | 5.1% | 4.1% | 3.6% |
| Return on capital employed % | 4.5% | 5.3% | 4.8% | 5.7% | 6.1% | 7.6% | 6.7% | 6.6% |
| Return on equity % | 3.9% | 5.9% | 5.2% | 5.9% | 6.3% | 7.4% | 6.6% | 6.5% |
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.