Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 27% | 27% | 28.5% | 27.8% | 27.7% | 29.7% | 29.1% |
| EBITDA margin % | 13% | 13.6% | 12.6% | 13.8% | 13.8% | 13.9% | 14.6% | 14.1% |
| EBIT margin % | 13% | 9.2% | 7.2% | 9% | 9.1% | 9.8% | 10.6% | 10.6% |
| PAT margin % | 6% | 4.6% | 3% | 4.9% | 5% | 6.1% | 6.6% | 7.6% |
| Working capital | ||||||||
| Receivable days | — | 96 | 117 | 110 | 107 | 98 | 101 | 102 |
| Inventory days | — | 105 | 128 | 125 | 114 | 107 | 112 | 129 |
| Payable days | — | — | 55 | 80 | 66 | 57 | 61 | 58 |
| NWC days | — | — | 190 | 154 | 155 | 148 | 152 | 172 |
| Leverage | ||||||||
| Current ratio | — | — | 1.77 | 1.67 | 1.71 | 1.76 | 2.01 | 2.65 |
| Debt to EBITDA | — | 2.28 | 3.19 | 2.59 | 2.42 | 1.91 | 1.54 | 1.53 |
| Debt to equity | — | 0.46 | 0.47 | 0.47 | 0.46 | 0.4 | 0.32 | 0.22 |
| Interest coverage | 4.6 | 3.1 | 2.2 | 3.5 | 3.7 | 4.7 | 5.2 | 6.6 |
| Asset turnover | — | 0.84 | 0.69 | 0.73 | 0.79 | 0.89 | 0.88 | 0.71 |
| Return ratios | ||||||||
| Return on assets % | — | 3.8% | 2.1% | 3.6% | 3.9% | 5.4% | 5.8% | 5.4% |
| Return on capital employed % | — | — | 7.1% | 10.2% | 10.8% | 13.7% | 13.8% | 12.8% |
| Return on equity % | — | 6.8% | 3.5% | 6.4% | 6.8% | 9% | 9.2% | 7.7% |
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.