Standalone figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 34% | 35% | 31.9% | 32.7% | 36.9% | 38.1% | 38.7% |
| EBITDA margin % | 5% | 13.2% | 8.4% | 7.7% | 8.7% | 10.4% | 10.3% |
| EBIT margin % | 3.2% | 11.6% | 6.6% | 5.2% | 5.1% | 5.5% | 5.4% |
| PAT margin % | 0.4% | 9.5% | 5% | 2.8% | 2.5% | 2.7% | 2.6% |
| Working capital | |||||||
| Receivable days | — | 36 | 31 | 40 | 39 | 33 | 26 |
| Inventory days | — | 102 | 103 | 103 | 136 | 147 | 133 |
| Payable days | — | 100 | 60 | 75 | 111 | 107 | 157 |
| NWC days | — | 38 | 74 | 68 | 64 | 73 | 2 |
| Leverage | |||||||
| Current ratio | — | 1.41 | 1.16 | 1.04 | 0.97 | 0.94 | 0.97 |
| Debt to EBITDA | — | 0.46 | 0.83 | 1.3 | 1.23 | 1.19 | 0.01 |
| Debt to equity | — | 0.17 | 0.22 | 0.32 | 0.33 | 0.38 | 0 |
| Interest coverage | 1.1 | 5.3 | 6.7 | 3.9 | 2.9 | 2.6 | 2.9 |
| Asset turnover | — | 1.5 | 1.56 | 1.43 | 1.24 | 1.2 | 1.37 |
| Return ratios | |||||||
| Return on assets % | — | 14.2% | 7.7% | 4% | 3.1% | 3.2% | 3.6% |
| Return on capital employed % | — | 28.8% | 19.6% | 14.4% | 13.3% | 13.1% | 12.4% |
| Return on equity % | — | 26.8% | 15.4% | 8.9% | 7.8% | 8.2% | 8.3% |
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.