Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 42% | 47.1% | 46.5% | 37.5% | 33.1% | 36.4% | 39.5% | 38.9% |
| EBITDA margin % | 10.2% | 10.7% | 12% | 8.2% | 5.5% | 5.9% | 5.9% | 3.4% |
| EBIT margin % | 9.5% | 9.9% | 11% | 7.4% | 4.8% | 5.2% | 4.5% | 1.9% |
| PAT margin % | 8.1% | 9.4% | 11.2% | 8.5% | 5.7% | 7.1% | 8.2% | 8.7% |
| Working capital | ||||||||
| Receivable days | 45 | — | 38 | 40 | 36 | 34 | 45 | 43 |
| Inventory days | 88 | — | 171 | 118 | 99 | 90 | 113 | 102 |
| Payable days | — | — | 100 | 70 | 57 | 57 | 40 | 46 |
| NWC days | — | — | 108 | 88 | 78 | 67 | 118 | 99 |
| Leverage | ||||||||
| Current ratio | 3.25 | — | 3.33 | 3.18 | 2.93 | 3.14 | 3.45 | 3.35 |
| Debt to EBITDA | — | — | 0 | 0 | 0.05 | 0 | 0 | 0 |
| Debt to equity | — | — | 0 | 0 | 0.01 | 0 | 0 | 0 |
| Interest coverage | 111.5 | 98.7 | 90.6 | 105.1 | 89.4 | 119.4 | 41.7 | 64 |
| Asset turnover | 1.4 | — | 1.13 | 1.38 | 1.59 | 1.62 | 1.52 | 1.48 |
| Return ratios | ||||||||
| Return on assets % | 11.3% | — | 12.6% | 11.8% | 9% | 11.5% | 12.5% | 13% |
| Return on capital employed % | 21.3% | — | 20.9% | 18.6% | 14.7% | 18.5% | 18.2% | 17.4% |
| Return on equity % | 15% | — | 16.7% | 15.9% | 12.4% | 15.5% | 16.7% | 17% |
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.