Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 22.6% | 24% | 21.7% | 20.5% | 20.8% | 20.5% | 19.8% |
| EBITDA margin % | 11.6% | 11.4% | 12% | 11.7% | 11% | 11.5% | 11.6% | 11.4% |
| EBIT margin % | 9.8% | 9.7% | 9.9% | 9.7% | 8.9% | 9.7% | 10% | 10% |
| PAT margin % | 5.2% | 5.1% | 4.8% | 5.8% | 5.9% | 6.3% | 6.8% | 6.9% |
| Working capital | ||||||||
| Receivable days | — | — | 95 | 80 | 73 | 64 | 62 | 54 |
| Inventory days | — | — | 153 | 116 | 101 | 103 | 81 | 74 |
| Payable days | — | — | 160 | 143 | 85 | 83 | 49 | 57 |
| NWC days | — | — | 88 | 53 | 89 | 83 | 95 | 71 |
| Leverage | ||||||||
| Current ratio | — | — | 1.32 | 1.42 | 1.71 | 1.83 | 1.71 | 1.98 |
| Debt to EBITDA | — | — | 1.42 | 0.65 | 1.27 | 0.7 | 1.07 | 0.37 |
| Debt to equity | — | — | 0.31 | 0.17 | 0.33 | 0.19 | 0.3 | 0.1 |
| Interest coverage | 3.6 | 3.6 | 3.1 | 4.9 | 5.1 | 5.7 | 7 | 8.2 |
| Asset turnover | — | — | 0.88 | 1.11 | 1.21 | 1.35 | 1.42 | 1.65 |
| Return ratios | ||||||||
| Return on assets % | — | — | 4.2% | 6.4% | 7.1% | 8.6% | 9.6% | 11.4% |
| Return on capital employed % | — | — | 15.6% | 19.9% | 19.2% | 20.6% | 22.1% | 24.7% |
| Return on equity % | — | — | 8.7% | 13% | 13.9% | 15.2% | 16% | 17.2% |
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.