Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 26.7% | 27.5% | 23.5% | 24.1% | 24.1% | 21.6% | 20.2% | 18.3% |
| EBITDA margin % | 10.5% | 12.1% | 8.3% | 12.1% | 12.5% | 10.7% | 9.7% | 9.4% |
| EBIT margin % | 9.8% | 10.5% | 6.6% | 10.8% | 11.5% | 9.7% | 8.7% | 8.6% |
| PAT margin % | 7.2% | 7.6% | 4.3% | 8% | 8.7% | 7.5% | 6.1% | 6% |
| Working capital | ||||||||
| Receivable days | 7 | 4 | 5 | 7 | 9 | 7 | 7 | 4 |
| Inventory days | 175 | 195 | 185 | 226 | 188 | 167 | 205 | 201 |
| Payable days | 0 | 2 | 111 | 19 | 76 | 58 | 12 | 93 |
| NWC days | 182 | 197 | 79 | 214 | 120 | 116 | 199 | 112 |
| Leverage | ||||||||
| Current ratio | 1.76 | 1.82 | 1.74 | 1.71 | 1.8 | 1.7 | 1.41 | 1.37 |
| Debt to EBITDA | 0.31 | 0.26 | 0 | 0.07 | 0.25 | 1.16 | 1.49 | 0.85 |
| Debt to equity | 0.1 | 0.09 | 0 | 0.02 | 0.1 | 0.4 | 0.47 | 0.3 |
| Interest coverage | 45.9 | 15.1 | 8.6 | 16.3 | 19.6 | 10.6 | 6.8 | 7.6 |
| Asset turnover | 1.66 | 1.52 | 1.3 | 1.35 | 1.53 | 1.43 | 1.34 | 1.45 |
| Return ratios | ||||||||
| Return on assets % | 12% | 11.5% | 5.5% | 10.8% | 13.3% | 10.8% | 8.1% | 8.6% |
| Return on capital employed % | 35.2% | 31.7% | 18.7% | 33% | 39% | 30.8% | 27% | 34.3% |
| Return on equity % | 22.2% | 22.2% | 11.6% | 23.3% | 27.8% | 24.5% | 19.8% | 22.6% |
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.