Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 41.1% | 40.3% | 36.9% | 35.6% | 39.9% | 43.7% | 54.7% |
| EBITDA margin % | 15.6% | 17.3% | 16.5% | 14.3% | 14.4% | 15.4% | 19.5% | 27.7% |
| EBIT margin % | 11.1% | 12% | 11.1% | 9.6% | 8.9% | 9.8% | 14.1% | 22.8% |
| PAT margin % | 5.7% | 7% | 6.1% | 6.2% | 5% | 5.9% | 9.6% | 17.5% |
| Working capital | ||||||||
| Receivable days | — | 66 | 70 | 64 | 54 | 66 | 73 | 72 |
| Inventory days | — | 92 | 113 | 114 | 69 | 82 | 121 | 132 |
| Payable days | — | 96 | 79 | 86 | 49 | 66 | 86 | 74 |
| NWC days | — | 62 | 105 | 92 | 74 | 82 | 108 | 130 |
| Leverage | ||||||||
| Current ratio | — | 1.1 | 1.24 | 1.56 | 1.14 | 1.06 | 1.1 | 1.11 |
| Debt to EBITDA | — | 2.11 | 2.91 | 2.15 | 2.15 | 2.2 | 1.31 | 0.68 |
| Debt to equity | — | 0.77 | 0.95 | 0.47 | 0.47 | 0.48 | 0.38 | 0.27 |
| Interest coverage | 4.1 | 3.9 | 3.3 | 3.7 | 3.2 | 3.7 | 6.6 | 14.4 |
| Asset turnover | — | 0.88 | 0.77 | 0.84 | 0.88 | 0.82 | 0.85 | 0.86 |
| Return ratios | ||||||||
| Return on assets % | — | 6.2% | 4.7% | 5.2% | 4.4% | 4.8% | 8.1% | 15.1% |
| Return on capital employed % | — | 17% | 15% | 15.6% | 12% | 13.3% | 20.5% | 35.7% |
| Return on equity % | — | 14.8% | 12.1% | 9.6% | 7.6% | 8.4% | 14.3% | 24.8% |
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.