Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 41.3% | 45.4% | ||||
| 52.3% |
| 51.6% |
| 52.2% |
| 54.9% |
| EBITDA margin % | 4.2% | 3% | 3.7% | 4.4% | 3.8% | 3.4% | 4.1% | 4.3% |
| EBIT margin % | 2.9% | 1.9% | 2.7% | 3.6% | 3% | 2.5% | 3.1% | 3.3% |
| PAT margin % | 1.3% | 1.8% | 1.9% | 2.4% | 2.3% | 2.2% | 2.3% | 2.5% |
| Working capital | ||||||||
| Receivable days | — | — | — | 22 | 27 | 26 | 26 | 28 |
| Inventory days | — | — | — | 115 | 168 | 137 | 161 | 121 |
| Payable days | — | — | — | 70 | 98 | 47 | 51 | 52 |
| NWC days | — | — | — | 68 | 96 | 117 | 136 | 98 |
| Leverage | ||||||||
| Current ratio | — | — | — | 1.99 | 1.84 | 2.1 | 2.19 | 2.43 |
| Debt to EBITDA | — | — | — | 0 | 0 | 0 | 0 | 0.14 |
| Debt to equity | — | — | — | 0 | 0 | 0 | 0 | 0.01 |
| Interest coverage | 2 | 3.1 | 16.3 | 22 | 28.8 | 35.5 | 22.6 | 25.1 |
| Asset turnover | — | — | 2.84 | 1.33 | 1.21 | 1.28 | 1.21 | 1.25 |
| Return ratios | ||||||||
| Return on assets % | — | — | 5.3% | 3.2% | 2.8% | 2.8% | 2.8% | 3.2% |
| Return on capital employed % | — | — | — | 6.5% | 5.9% | 5.2% | 5.3% | 6.2% |
| Return on equity % | — | — | — | 4.4% | 3.9% | 3.6% | 3.7% | 4.1% |
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.