Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 29.8% | 29.3% | 31.1% | 28.1% | 31.1% | 33.1% | 32.4% | 32.4% |
| EBITDA margin % | 6.6% | 6% | 7.3% | 11.1% | 14.4% | 16.6% | 16.7% | 17.5% |
| EBIT margin % | 0.8% | 1.4% | 3.1% | 8.1% | 12% | 14.6% | 15.2% | 16.3% |
| PAT margin % | 1.6% | 3.4% | 3.5% | 7.6% | 10.8% | 12.6% | 12.2% | 12.6% |
| Working capital | ||||||||
| Receivable days | — | — | 128 | 124 | 113 | 115 | 140 | 151 |
| Inventory days | — | — | 155 | 135 | 123 | 132 | 141 | 156 |
| Payable days | — | — | 108 | 104 | 80 | 63 | 98 | 122 |
| NWC days | — | — | 175 | 156 | 156 | 184 | 183 | 185 |
| Leverage | ||||||||
| Current ratio | — | — | 1.91 | 1.88 | 2.42 | 2.57 | 2.27 | 1.97 |
| Debt to EBITDA | — | — | 1.43 | 0.89 | 0 | 0 | 0.06 | 0.06 |
| Debt to equity | — | — | 0.11 | 0.14 | 0 | 0 | 0.01 | 0.02 |
| Interest coverage | 5 | 4 | 6.3 | 36.8 | 114.1 | 538 | 70.3 | 157.4 |
| Asset turnover | — | — | 0.66 | 0.81 | 0.94 | 0.97 | 0.96 | 0.97 |
| Return ratios | ||||||||
| Return on assets % | — | — | 2.3% | 6.2% | 10.2% | 12.3% | 11.7% | 12.2% |
| Return on capital employed % | — | — | 5.8% | 14.9% | 21.3% | 25.4% | 27.7% | 31.7% |
| Return on equity % | — | — | 3.7% | 10.4% | 14.9% | 17.7% | 18.4% | 21% |
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.