Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 33.4% | 34.5% | 30.8% | 33.2% | 35.5% | 35.5% | 31.3% | 33.8% |
| EBITDA margin % | 8.3% | 7.2% | 3% | 4.1% | 3.3% | 3.3% | 5.5% | 5% |
| EBIT margin % | 7.5% | 6.3% | 1.7% | 2.8% | 1.6% | 1.7% | 4.4% | 3.7% |
| PAT margin % | 6.9% | 29.6% | 11.3% | 26.3% | 22.9% | 10.3% | 27.3% | 45.6% |
| Working capital | ||||||||
| Receivable days | — | — | 52 | 103 | 123 | 78 | 115 | 131 |
| Inventory days | — | — | 150 | 128 | 157 | 171 | 111 | 169 |
| Payable days | — | — | 41 | 65 | 83 | 78 | 71 | 53 |
| NWC days | — | — | 161 | 166 | 197 | 170 | 155 | 247 |
| Leverage | ||||||||
| Current ratio | — | — | 2.58 | 2.14 | 2.15 | 2.14 | 2.25 | 2.86 |
| Debt to EBITDA | — | — | 4.61 | 4.65 | 7.44 | 5.92 | 3.1 | 3.96 |
| Debt to equity | — | — | 0.11 | 0.16 | 0.18 | 0.16 | 0.16 | 0.13 |
| Interest coverage | 11.4 | 21.4 | 29.6 | 44.6 | 24.9 | 11.5 | 18 | 17.6 |
| Asset turnover | — | — | 0.65 | 0.65 | 0.55 | 0.64 | 0.73 | 0.53 |
| Return ratios | ||||||||
| Return on assets % | — | — | 7.3% | 17.1% | 12.5% | 6.5% | 20% | 24% |
| Return on capital employed % | — | — | 9.9% | 20.6% | 17.8% | 14.1% | 23.8% | 21.5% |
| Return on equity % | — | — | 8.8% | 22.1% | 16.3% | 8.6% | 26.6% | 29.3% |
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.