Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 24% | 26.1% | 71.9% | 24% | 24.2% | 26.3% | 28.9% | 28.8% |
| EBITDA margin % | 7.9% | 8.2% | 8.5% | 9.4% | 10.1% | 11.1% | 12.3% | 12.9% |
| EBIT margin % | 5.7% | 5.2% | 5.6% | 6.5% | 7.7% | 8.9% | 10.2% | 11% |
| PAT margin % | 3.7% | 3.6% | 3.7% | 4.3% | 5.7% | 6.6% | 7.5% | 7.7% |
| Working capital | ||||||||
| Receivable days | 28 | 28 | 19 | 17 | 13 | 15 | 13 | 16 |
| Inventory days | 31 | 31 | 89 | 26 | 23 | 21 | 24 | 17 |
| Payable days | 77 | 87 | 304 | 93 | 75 | 80 | 87 | 90 |
| NWC days | -18 | -27 | -196 | -50 | -40 | -43 | -50 | -56 |
| Leverage | ||||||||
| Current ratio | 0.78 | 0.72 | 0.75 | 0.65 | 0.61 | 0.64 | 0.6 | 0.54 |
| Debt to EBITDA | 0.96 | 1.47 | 0.77 | 0.82 | 0.84 | 0.43 | 0.39 | 0.52 |
| Debt to equity | 0.41 | 0.55 | 0.27 | 0.33 | 0.37 | 0.2 | 0.17 | 0.28 |
| Interest coverage | 12.9 | 8.7 | 6.8 | 10.9 | 15.2 | 16.3 | 27.2 | 25.3 |
| Asset turnover | 2.18 | 1.76 | 1.64 | 1.75 | 1.89 | 1.98 | 1.82 | 1.82 |
| Return ratios | ||||||||
| Return on assets % | 8% | 6.3% | 6% | 7.5% | 10.7% | 13% | 13.6% | 13.9% |
| Return on capital employed % | 27% | 19.4% | 18.5% | 22.3% | 29.3% | 34% | 35.9% | 42.1% |
| Return on equity % | 20% | 16.4% | 14.7% | 18.5% | 24.7% | 26.9% | 27.3% | 32.2% |
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.