Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 58.1% | 60% | 54.3% | 58.7% | ||||
| 47.6% |
| 50.1% |
| 53.9% |
| 52.9% |
| EBITDA margin % | 15.3% | 13.2% | 19.9% | 18.7% | 7.4% | 9.7% | 10.6% | 9.1% |
| EBIT margin % | 14.1% | 11.6% | 18.8% | 17.7% | 6.2% | 8.5% | 9.4% | 7.9% |
| PAT margin % | 8.4% | 8.5% | 13.5% | 13.4% | 4.8% | 5.8% | 6.7% | 5.7% |
| Working capital | ||||||||
| Receivable days | 122 | 89 | 102 | 138 | 140 | 148 | 151 | 167 |
| Inventory days | 276 | 428 | 240 | 358 | 303 | 258 | 287 | 273 |
| Payable days | 103 | 121 | 100 | 134 | 79 | 91 | 95 | 104 |
| NWC days | 296 | 397 | 242 | 363 | 364 | 314 | 343 | 336 |
| Leverage | ||||||||
| Current ratio | 1.89 | 2.16 | 2.32 | 2.02 | 2.53 | 2.6 | 2.6 | 2.58 |
| Debt to EBITDA | 1.02 | 1.09 | 0.55 | 1.3 | 2.97 | 1.91 | 1.74 | 2.16 |
| Debt to equity | 0.3 | 0.22 | 0.19 | 0.4 | 0.27 | 0.23 | 0.22 | 0.23 |
| Interest coverage | 9.7 | 7.9 | 18.6 | 14.1 | 4 | 5.7 | 6.4 | 6.2 |
| Asset turnover | 1.11 | 0.95 | 1.12 | 0.91 | 0.81 | 0.83 | 0.82 | 0.78 |
| Return ratios | ||||||||
| Return on assets % | 9.3% | 8.1% | 15.1% | 12.2% | 3.9% | 4.8% | 5.5% | 4.5% |
| Return on capital employed % | 27.1% | 18.6% | 35.4% | 31.5% | 9.8% | 12.3% | 13.1% | 11.5% |
| Return on equity % | 16.2% | 12.8% | 23.9% | 21.7% | 5.9% | 7.3% | 8.2% | 6.8% |
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.