Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 28.3% | 25.6% | 26.1% | 26.7% | 25.5% | 27% | 27.3% | 24.5% |
| EBITDA margin % | 13.1% | 11.1% | 11.9% | 13.3% | 11.9% | 13% | 12% | 10.5% |
| EBIT margin % | 10.9% | 9.3% | 10.3% | 11.6% | 10.1% | 11% | 9.5% | 8.3% |
| PAT margin % | 4.8% | 3.1% | 3.3% | 6.6% | 6% | 6.5% | 5.1% | 4.7% |
| Working capital | ||||||||
| Receivable days | — | — | 10 | 11 | 8 | 7 | 14 | 9 |
| Inventory days | — | — | 252 | 196 | 203 | 227 | 316 | 213 |
| Payable days | — | — | 123 | 72 | 67 | 39 | 84 | 36 |
| NWC days | — | — | 138 | 134 | 144 | 195 | 246 | 186 |
| Leverage | ||||||||
| Current ratio | — | — | 0.95 | 0.99 | 1.04 | 1.11 | 1.13 | 1.2 |
| Debt to EBITDA | — | — | 3.79 | 2.37 | 2.42 | 2.86 | 3.6 | 3.08 |
| Debt to equity | — | — | 2.43 | 1.38 | 1.03 | 1.09 | 1 | 0.79 |
| Interest coverage | 1.9 | 2.1 | 2.3 | 3.4 | 4.1 | 4.2 | 3.3 | 3.8 |
| Asset turnover | — | — | 1.02 | 1.3 | 1.27 | 1.15 | 0.89 | 1.14 |
| Return ratios | ||||||||
| Return on assets % | — | — | 3.4% | 8.6% | 7.6% | 7.4% | 4.5% | 5.3% |
| Return on capital employed % | — | — | 30.9% | 38.5% | 31% | 28.9% | 19.3% | 18.5% |
| Return on equity % | — | — | 17.7% | 29.2% | 21.4% | 19% | 11.8% | 11.4% |
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.