Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 43.2% | 41.9% | 36.9% | 39.8% | 41.3% | 38.4% | 37% |
| EBITDA margin % | 9.1% | 10.4% | -1.8% | 7.8% | 15% | 15.4% | 9.4% | 8.7% |
| EBIT margin % | 7.7% | 7.3% | -8% | 5% | 12.6% | 12.6% | 6.8% | 6.5% |
| PAT margin % | 4.8% | 4.5% | -6.4% | 3.3% | 9.8% | 10% | 6.6% | 6.1% |
| Working capital | ||||||||
| Receivable days | 91 | 79 | 101 | 59 | 51 | 39 | 50 | 47 |
| Inventory days | 131 | 151 | 218 | 120 | 126 | 103 | 110 | 85 |
| Payable days | 48 | 58 | 136 | 82 | 77 | 57 | 50 | 39 |
| NWC days | 174 | 172 | 183 | 97 | 100 | 85 | 110 | 93 |
| Leverage | ||||||||
| Current ratio | 1.89 | 2.05 | 3.01 | 2.61 | 2.38 | 3.5 | 4.16 | 4.44 |
| Debt to EBITDA | 2 | 1.05 | — | 0.2 | 0.18 | 0.08 | 0.03 | 0 |
| Debt to equity | 0.52 | 0.32 | 0.03 | 0.04 | 0.08 | 0.03 | 0.01 | 0 |
| Interest coverage | 10.1 | 5 | -4 | 9.1 | 27.2 | 28.4 | 21.5 | 22.2 |
| Asset turnover | 1.48 | 1.64 | 0.83 | 1.52 | 1.74 | 1.44 | 1.5 | 1.57 |
| Return ratios | ||||||||
| Return on assets % | 7% | 7.4% | -5.3% | 5% | 17.1% | 14.3% | 10% | 9.6% |
| Return on capital employed % | 24% | 21.9% | -8.2% | 13.8% | 40.5% | 31.5% | 17.3% | 16.3% |
| Return on equity % | 13.5% | 13.3% | -7.5% | 7.6% | 28.3% | 19.4% | 13% | 12.2% |
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.