Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 39.4% | 39% | 33.9% | 37.7% | 38.7% | 39.2% | 33.2% | 34.1% |
| EBITDA margin % | 12.8% | 14.1% | 12.8% | 14% | 15.5% | 15.9% | 11% | 12.5% |
| EBIT margin % | 11.9% | 12.1% | 11.1% | 12.2% | 13.8% | 14.1% | 9.3% | 10.9% |
| PAT margin % | 12% | 9.2% | 8.7% | 11.2% | 11.1% | 9.8% | 9.8% | 11.1% |
| Working capital | ||||||||
| Receivable days | 19 | — | 13 | 13 | 15 | 18 | 16 | 18 |
| Inventory days | 149 | — | 109 | 94 | 98 | 93 | 91 | 74 |
| Payable days | 42 | — | 85 | 93 | 106 | 111 | 114 | 104 |
| NWC days | 126 | — | 37 | 14 | 6 | -0 | -7 | -13 |
| Leverage | ||||||||
| Current ratio | 4.96 | — | 2.75 | 2.56 | 2.43 | 0.83 | 1.28 | 1.4 |
| Debt to EBITDA | 0.01 | — | 0 | 0 | 0.03 | 0.91 | 0.12 | 0.15 |
| Debt to equity | 0 | — | 0 | 0 | 0 | 0.11 | 0.01 | 0.02 |
| Interest coverage | 44.7 | 31.4 | 32.9 | 40.6 | 45.5 | 25.2 | 8.1 | 23.7 |
| Asset turnover | 0.69 | — | 0.53 | 0.56 | 0.55 | 0.54 | 0.6 | 0.65 |
| Return ratios | ||||||||
| Return on assets % | 8.2% | — | 4.6% | 6.2% | 6.1% | 5.3% | 5.8% | 7.2% |
| Return on capital employed % | 13.3% | — | 7.7% | 9.8% | 10.1% | 11.5% | 10% | 11.6% |
| Return on equity % | 9.2% | — | 5.5% | 7.5% | 7.4% | 7.2% | 7.4% | 9.2% |
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.