Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 29.2% | 26.5% | 26.8% | 38.9% | 35.2% | 41.5% | 39.5% | 39.9% |
| EBITDA margin % | 9.8% | 12% | 11.7% | 13.3% | 9.8% | 10.2% | 7.2% | 7.2% |
| EBIT margin % | 8% | 10.4% | 10% | 11.5% | 8.3% | 8.5% | 5.4% | 5.3% |
| PAT margin % | 7% | 7.4% | 5.8% | 8.2% | 30.5% | 6.4% | 3.7% | 3.4% |
| Working capital | ||||||||
| Receivable days | 28 | 24 | 17 | 20 | 22 | 20 | 28 | 26 |
| Inventory days | 347 | 215 | 184 | 260 | 178 | 245 | 232 | 238 |
| Payable days | 0 | 0 | 66 | 45 | 37 | 36 | 37 | 35 |
| NWC days | 374 | 239 | 135 | 236 | 164 | 229 | 224 | 229 |
| Leverage | ||||||||
| Current ratio | 1.18 | 1.28 | 1.44 | 1.39 | 1.98 | 1.72 | 1.58 | 1.49 |
| Debt to EBITDA | 5.21 | 2.6 | 1.69 | 2.41 | 1.33 | 2.1 | 3.52 | 3.79 |
| Debt to equity | 1.49 | 1.09 | 0.63 | 0.84 | 0.31 | 0.46 | 0.54 | 0.63 |
| Interest coverage | 4.7 | 6.3 | 9.8 | 11.7 | 12.1 | 12.2 | 6 | 4.9 |
| Asset turnover | 0.84 | 1.12 | 1.36 | 1.16 | 1.45 | 1.23 | 1.17 | 1.19 |
| Return ratios | ||||||||
| Return on assets % | 5.9% | 8.3% | 7.9% | 9.5% | 44.3% | 7.8% | 4.4% | 4% |
| Return on capital employed % | 25% | 29.3% | 27% | 28.5% | 23.5% | 18.5% | 12% | 12.5% |
| Return on equity % | 20.5% | 25.8% | 18.7% | 21.5% | 72.3% | 13.5% | 8% | 7.8% |
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.