Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 36.1% | 36.9% | 35.8% | 32.6% | 31.7% | 32.5% | 33.2% | 31.1% |
| EBITDA margin % | 10.9% | 9.7% | 9.7% | 8.6% | 8.5% | 9.3% | 9.5% | 8.8% |
| EBIT margin % | 7.6% | 5.1% | 5.4% | 4.7% | 5% | 6% | 6.2% | 5.9% |
| PAT margin % | 4.7% | 3.7% | 4.1% | 3.2% | 3.5% | 4.1% | 4.8% | 5.9% |
| Working capital | ||||||||
| Receivable days | — | — | 80 | 76 | 45 | 54 | 59 | 63 |
| Inventory days | — | — | 48 | 44 | 37 | 35 | 41 | 31 |
| Payable days | — | — | 119 | 78 | 57 | 66 | 61 | 61 |
| NWC days | — | — | 9 | 42 | 25 | 23 | 38 | 33 |
| Leverage | ||||||||
| Current ratio | — | — | 1.21 | 1.2 | 1.45 | 1.26 | 1.26 | 1.65 |
| Debt to EBITDA | — | — | 0.28 | 1.47 | 0.59 | 0.7 | 0.92 | 0.53 |
| Debt to equity | — | — | 0.05 | 0.28 | 0.13 | 0.17 | 0.22 | 0.11 |
| Interest coverage | 9.2 | 7.4 | 10.4 | 10.3 | 8.5 | 12.6 | 9.9 | 11.9 |
| Asset turnover | — | — | 1.27 | 1.33 | 1.74 | 1.65 | 1.57 | 1.59 |
| Return ratios | ||||||||
| Return on assets % | — | — | 5.2% | 4.2% | 6.1% | 6.8% | 7.5% | 9.4% |
| Return on capital employed % | — | — | 11.4% | 10.8% | 13.2% | 15.9% | 17.1% | 19.5% |
| Return on equity % | — | — | 8.1% | 7.1% | 9% | 10.9% | 12.2% | 13.7% |
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.