Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 44.1% | 49.5% | 52.6% | 52.9% | 53.3% | 52.1% | 51.1% | 54.7% |
| EBITDA margin % | 17.9% | 20% | 24.9% | 26.2% | 26.5% | 22.2% | 21% | 24.3% |
| EBIT margin % | 12.8% | 14.4% | 19.4% | 22% | 22.6% | 17% | 15.6% | 18.8% |
| PAT margin % | 8% | 15.4% | 13.2% | 15.1% | 16.8% | 12.7% | 10.8% | 13.9% |
| Working capital | ||||||||
| Receivable days | — | — | 53 | 50 | 43 | 52 | 55 | 57 |
| Inventory days | — | — | 142 | 136 | 120 | 134 | 115 | 138 |
| Payable days | — | — | 132 | 104 | 107 | 111 | 100 | 107 |
| NWC days | — | — | 63 | 81 | 56 | 76 | 70 | 88 |
| Leverage | ||||||||
| Current ratio | — | — | 1.43 | 1.35 | 1.44 | 1.23 | 1.42 | 1.31 |
| Debt to EBITDA | — | — | 1.48 | 1.07 | 0.95 | 1.51 | 1.32 | 1.1 |
| Debt to equity | — | — | 0.41 | 0.36 | 0.33 | 0.34 | 0.28 | 0.26 |
| Interest coverage | 5 | 5.3 | 12.8 | 23.8 | 16.1 | 8.3 | 6.8 | 12 |
| Asset turnover | — | — | 0.65 | 0.77 | 0.78 | 0.62 | 0.65 | 0.63 |
| Return ratios | ||||||||
| Return on assets % | — | — | 8.6% | 11.6% | 13% | 7.9% | 7% | 8.7% |
| Return on capital employed % | — | — | 17.4% | 25.2% | 26% | 15.4% | 14.4% | 16.5% |
| Return on equity % | — | — | 14.7% | 19.8% | 21.9% | 13.1% | 11% | 13.6% |
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.