Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 53.5% | 54.4% | 55.2% | 52.3% | ||||
| 46.3% |
| 49% |
| 48.4% |
| 48.6% |
| EBITDA margin % | 18.8% | 17.9% | 17.9% | 21.5% | 14.7% | 13.9% | 12.9% | 13% |
| EBIT margin % | 11.9% | 10.8% | 10.5% | 16.7% | 9.7% | 8.5% | 7.7% | 8.3% |
| PAT margin % | 7.1% | 7.3% | 7.7% | 11.8% | 6.7% | 5.8% | 5.3% | 5.6% |
| Working capital | ||||||||
| Receivable days | — | — | 37 | 28 | 16 | 22 | 16 | 14 |
| Inventory days | — | — | 182 | 143 | 112 | 147 | 126 | 128 |
| Payable days | — | — | 53 | 50 | 60 | 51 | 35 | 40 |
| NWC days | — | — | 165 | 120 | 69 | 119 | 106 | 102 |
| Leverage | ||||||||
| Current ratio | — | — | 0.99 | 1.25 | 1.35 | 1.58 | 1.98 | 1.56 |
| Debt to EBITDA | — | — | 1.89 | 1.06 | 1.53 | 2.2 | 1.75 | 2.04 |
| Debt to equity | — | — | 0.46 | 0.41 | 0.34 | 0.48 | 0.34 | 0.37 |
| Interest coverage | 5.6 | 4.8 | 6.8 | 13.7 | 8.2 | 4.1 | 4.6 | 5.6 |
| Asset turnover | — | — | 0.79 | 1.08 | 0.93 | 0.89 | 0.98 | 0.89 |
| Return ratios | ||||||||
| Return on assets % | — | — | 6% | 12.7% | 6.3% | 5.2% | 5.1% | 5% |
| Return on capital employed % | — | — | 12.5% | 28.2% | 13% | 11.5% | 10.2% | 10.7% |
| Return on equity % | — | — | 10.4% | 21.5% | 10.2% | 9% | 8% | 7.9% |
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.