Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 78.9% | 77.4% | 76.4% | 78.8% | 82.9% |
| EBITDA margin % | 10.3% | 11.1% | 11.2% | 9.8% | 10.3% | 14% | 16.2% | 17.9% |
| EBIT margin % | 5.1% | 4.9% | 5.4% | 2.8% | 4.8% | 8.7% | 10.3% | 8.5% |
| PAT margin % | 6.2% | 2.1% | 3.1% | 1% | 2.5% | 6.3% | 7.2% | 5.4% |
| Working capital | ||||||||
| Receivable days | — | — | — | 111 | 76 | 62 | 53 | 60 |
| Inventory days | — | — | — | 260 | 174 | 101 | 109 | 214 |
| Payable days | — | — | — | 375 | 300 | 202 | 254 | 268 |
| NWC days | — | — | — | -4 | -49 | -38 | -92 | 6 |
| Leverage | ||||||||
| Current ratio | — | — | — | 1.36 | 1.23 | 1.27 | 1.11 | 1.21 |
| Debt to EBITDA | — | — | — | 2.33 | 1.47 | 0.61 | 0.38 | 2.22 |
| Debt to equity | — | — | — | 0.51 | 0.47 | 0.33 | 0.18 | 0.93 |
| Interest coverage | 3 | 2.4 | 3.4 | 1.5 | 4 | 12.2 | 16 | 7 |
| Asset turnover | — | — | — | 1.02 | 1.39 | 1.94 | 1.72 | 1 |
| Return ratios | ||||||||
| Return on assets % | — | — | — | 1% | 3.5% | 12.2% | 12.4% | 5.4% |
| Return on capital employed % | — | — | — | 5% | 12.3% | 31.4% | 31.6% | 15.3% |
| Return on equity % | — | — | — | 2.2% | 7.8% | 24% | 21.7% | 12.6% |
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.