Standalone figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | — | 24.1% | 21.3% | 28.1% | 29.9% | 28% | 30.8% |
| EBITDA margin % | 11.2% | 7.9% | 7.2% | 10.4% | 12.3% | 6.9% | 8.4% |
| EBIT margin % | 5.9% | 5% | 5.2% | 8.9% | 11% | 5.2% | 6.1% |
| PAT margin % | 6.1% | 4.7% | 4.9% | 8.2% | 9.9% | 9.3% | 7.1% |
| Working capital | |||||||
| Receivable days | — | 26 | 65 | 110 | 80 | 72 | 100 |
| Inventory days | — | 96 | 78 | 64 | 75 | 109 | 114 |
| Payable days | — | 61 | 39 | 61 | 44 | 57 | 56 |
| NWC days | — | 61 | 104 | 113 | 111 | 124 | 157 |
| Leverage | |||||||
| Current ratio | — | 2.26 | 2.11 | 2.48 | 2.82 | 2 | 2.36 |
| Debt to EBITDA | — | 0.47 | 1.29 | 1 | 1.15 | 2.98 | 2.18 |
| Debt to equity | — | 0.09 | 0.27 | 0.22 | 0.2 | 0.22 | 0.12 |
| Interest coverage | — | 7.3 | 10.6 | 23.6 | 15.7 | 10 | 6.6 |
| Asset turnover | — | 1.65 | 1.84 | 1.35 | 1.02 | 0.77 | 0.53 |
| Return ratios | |||||||
| Return on assets % | — | 7.8% | 9.1% | 11% | 10% | 7.2% | 3.7% |
| Return on capital employed % | — | 18.2% | 24.5% | 31.5% | 25.7% | 18.6% | 9.2% |
| Return on equity % | — | 11.4% | 14.3% | 17% | 14.3% | 10.1% | 4.6% |
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.