Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 42.7% | 46.3% | 40.7% | 40.6% | 45.1% | 41.7% | 42.2% |
| EBITDA margin % | 10.9% | 10.4% | 11.9% | 6.6% | 7.5% | 10.2% | 7.3% | 8% |
| EBIT margin % | 7.4% | 5.7% | 6.5% | 3.5% | 4.4% | 6.7% | 3.4% | 4.1% |
| PAT margin % | 4.3% | 4.1% | 3.9% | 1.7% | 2.5% | 3.8% | 1.2% | 2.4% |
| Working capital | ||||||||
| Receivable days | 50 | — | 45 | 34 | 25 | 30 | 36 | 39 |
| Inventory days | 84 | — | 151 | 201 | 162 | 152 | 149 | 123 |
| Payable days | 0 | — | 103 | 103 | 85 | 91 | 101 | 96 |
| NWC days | 133 | — | 93 | 132 | 102 | 91 | 84 | 66 |
| Leverage | ||||||||
| Current ratio | — | — | 1.28 | 1.33 | 1.05 | 1.04 | 0.94 | 0.89 |
| Debt to EBITDA | 1.58 | — | 0.63 | 3.37 | 2.95 | 2.9 | 3.68 | 2.58 |
| Debt to equity | 0.55 | — | 0.17 | 0.55 | 0.61 | 0.73 | 0.68 | 0.57 |
| Interest coverage | 5.4 | 3.5 | 4.1 | 2.9 | 3.5 | 4.5 | 2.2 | 3.3 |
| Asset turnover | 1.32 | — | 1.16 | 1.04 | 1.19 | 1.05 | 1.05 | 1.14 |
| Return ratios | ||||||||
| Return on assets % | 5.7% | — | 4.5% | 1.8% | 2.9% | 3.9% | 1.3% | 2.8% |
| Return on capital employed % | — | — | 12% | 7% | 9.1% | 12.3% | 6.6% | 9.2% |
| Return on equity % | 13.9% | — | 8.7% | 4.2% | 6.7% | 9.3% | 3.1% | 6.7% |
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.