Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 51.3% | 49.5% | 49.7% | 51% | 45.4% | 45.2% | 44.4% | 44.5% |
| EBITDA margin % | 9.3% | 17.7% | 10% | 16.3% | 14.5% | 16.2% | 16.5% | 18.5% |
| EBIT margin % | 7.5% | 10.5% | -1.6% | 9% | 8.5% | 10.8% | 11.3% | 11.8% |
| PAT margin % | 5% | 4.9% | -2.5% | 6.4% | 7.2% | 12% | 9.5% | 10% |
| Working capital | ||||||||
| Receivable days | 22 | 16 | 4 | 2 | 1 | 2 | 1 | 1 |
| Inventory days | 145 | 133 | 140 | 158 | 116 | 87 | 80 | 76 |
| Payable days | 50 | 37 | 78 | 60 | 56 | 42 | 37 | 41 |
| NWC days | 116 | 113 | 66 | 99 | 62 | 48 | 45 | 36 |
| Leverage | ||||||||
| Current ratio | 1.52 | 3.63 | 1.94 | 2.85 | 2.12 | 1.96 | 1.76 | 1.23 |
| Debt to EBITDA | 1.67 | 0.53 | 0 | 0.79 | 0.62 | 0.26 | 0.18 | 0.14 |
| Debt to equity | 0.23 | 0.12 | 0 | 0.18 | 0.23 | 0.11 | 0.08 | 0.06 |
| Interest coverage | 6.2 | 2 | 0.7 | 2.1 | 3 | 5.3 | 16.2 | 16.4 |
| Asset turnover | 0.99 | 0.59 | 0.36 | 0.5 | 0.93 | 1.6 | 1.72 | 1.61 |
| Return ratios | ||||||||
| Return on assets % | 5% | 2.9% | -0.9% | 3.2% | 6.7% | 19.3% | 16.3% | 16.1% |
| Return on capital employed % | 12.1% | 13.9% | 3.4% | 10.2% | 14.7% | 24.8% | 32.4% | 32.2% |
| Return on equity % | 7.5% | 6.2% | -2% | 9.2% | 18% | 32.3% | 26.8% | 25.5% |
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.