Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 38.6% | 36% | 39.2% | 36.3% | 35.1% | 37.6% | 37% |
| EBITDA margin % | 10.7% | 9.7% | 13% | 14.8% | 12.8% | 11% | 11% | 12.1% |
| EBIT margin % | 9% | 7.1% | 9.3% | 11.9% | 10.5% | 8% | 8.1% | 9.2% |
| PAT margin % | 5% | 5.3% | 7.1% | 8% | 31.9% | 4.2% | 4.6% | 5.1% |
| Working capital | ||||||||
| Receivable days | 47 | — | 41 | 37 | 33 | 37 | 37 | 31 |
| Inventory days | 101 | — | 164 | 186 | 142 | 137 | 154 | 144 |
| Payable days | 49 | — | 80 | 102 | 93 | 87 | 79 | 80 |
| NWC days | 99 | — | 124 | 122 | 83 | 88 | 112 | 95 |
| Leverage | ||||||||
| Current ratio | 1.51 | — | 2.07 | 1.53 | 1.56 | 1.44 | 1.49 | 1.47 |
| Debt to EBITDA | 1.32 | — | 0.83 | 1.31 | 1.22 | 1.78 | 1.45 | 0.99 |
| Debt to equity | 0.33 | — | 0.13 | 0.3 | 0.16 | 0.13 | 0.06 | 0.05 |
| Interest coverage | 5.4 | 3.2 | 6.5 | 7.7 | 4.6 | 2.9 | 3.4 | 5.3 |
| Asset turnover | 1.26 | 1.61 | 0.8 | 0.88 | 0.71 | 0.49 | 0.32 | 0.35 |
| Return ratios | ||||||||
| Return on assets % | 6.3% | 8.5% | 5.6% | 7% | 22.6% | 2% | 1.4% | 1.8% |
| Return on capital employed % | 18.9% | — | 9.7% | 15.8% | 12% | 5.6% | 3.8% | 3.8% |
| Return on equity % | 11.8% | — | 8.8% | 12.5% | 33.5% | 2.8% | 1.8% | 2.3% |
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.