Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 38.7% | 37.1% | 34.7% | 35.6% | 36.9% | 35.2% | 33% | 34.4% |
| EBITDA margin % | 6.7% | 4.7% | 8.5% | 7.2% | 6% | 6.7% | 5.4% | 7% |
| EBIT margin % | 4.9% | 2% | 5.8% | 5% | 4.2% | 4.8% | 3.4% | 4.6% |
| PAT margin % | 2.7% | 0.8% | 3.4% | 4.2% | 3.7% | 4.1% | 3.3% | 3.8% |
| Working capital | ||||||||
| Receivable days | — | 62 | 50 | 41 | 39 | 45 | 51 | 37 |
| Inventory days | — | 70 | 47 | 41 | 52 | 43 | 40 | 45 |
| Payable days | — | 49 | 60 | 63 | 70 | 107 | 58 | 57 |
| NWC days | — | 83 | 37 | 19 | 21 | -20 | 33 | 26 |
| Leverage | ||||||||
| Current ratio | — | 1.43 | 1.49 | 1.2 | 1.19 | 1.01 | 1.09 | 1.19 |
| Debt to EBITDA | — | 3.36 | 1.39 | 1.43 | 1.2 | 0.08 | 0.1 | 0.08 |
| Debt to equity | — | 0.43 | 0.3 | 0.31 | 0.22 | 0.02 | 0.02 | 0.02 |
| Interest coverage | 4 | 2.3 | 7.6 | 14.6 | 16.6 | 19.4 | 14.7 | 13.8 |
| Asset turnover | — | 1.38 | 1.36 | 1.56 | 1.66 | 1.76 | 1.66 | 1.6 |
| Return ratios | ||||||||
| Return on assets % | — | 1.2% | 4.7% | 6.6% | 6.1% | 7.2% | 5.5% | 6% |
| Return on capital employed % | — | 6.6% | 14.5% | 15.9% | 15.3% | 17.4% | 12.5% | 14.6% |
| Return on equity % | — | 2.3% | 8.9% | 12.5% | 11.5% | 14.4% | 10.7% | 11.1% |
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.