Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 40.1% | 36.4% | 44% | 41.8% | 36.1% | 39.1% | 38.6% | 40.9% |
| EBITDA margin % | 6.1% | 4.7% | 11% | 12.7% | 8.2% | 8.6% | 8.4% | 9.5% |
| EBIT margin % | 3.9% | 1.7% | 7.8% | 10.7% | 6.5% | 6.7% | 6.5% | 7.6% |
| PAT margin % | 2% | 0.4% | 4.7% | 7.4% | 5.8% | 5.5% | 5.3% | 7% |
| Working capital | ||||||||
| Receivable days | — | — | 87 | 59 | 55 | 58 | 54 | 58 |
| Inventory days | — | — | 134 | 139 | 119 | 129 | 113 | 123 |
| Payable days | — | — | 90 | 68 | 61 | 63 | 47 | 65 |
| NWC days | — | — | 131 | 131 | 113 | 123 | 120 | 116 |
| Leverage | ||||||||
| Current ratio | — | — | 2.09 | 2.27 | 2.18 | 2.38 | 2.11 | 2.9 |
| Debt to EBITDA | — | — | 1.83 | 0.93 | 1.01 | 0.58 | 0.81 | 0.56 |
| Debt to equity | — | — | 0.41 | 0.29 | 0.22 | 0.12 | 0.15 | 0.07 |
| Interest coverage | 1.9 | 0.9 | 4.4 | 10.2 | 8.6 | 7.7 | 7.7 | 14.8 |
| Asset turnover | — | — | 1.17 | 1.49 | 1.68 | 1.6 | 1.55 | 1.07 |
| Return ratios | ||||||||
| Return on assets % | — | — | 5.5% | 10.9% | 9.7% | 8.8% | 8.2% | 7.5% |
| Return on capital employed % | — | — | 15% | 28.5% | 22.2% | 19.3% | 18.2% | 16.6% |
| Return on equity % | — | — | 9.6% | 18.2% | 15.6% | 12.7% | 11.7% | 9.6% |
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.