Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 48.3% | 47.3% | 46.3% | 53.1% | 41.3% | 40.9% | 44.8% | 44.8% |
| EBITDA margin % | 17.6% | 14% | 12.8% | 24.1% | 13.1% | 10.3% | 13.1% | 12.6% |
| EBIT margin % | 13.9% | 8.9% | 6.7% | 20.2% | 9.1% | 6% | 9% | 7.8% |
| PAT margin % | 10.9% | 8.6% | 6.1% | 17.9% | 7.6% | 6.5% | 9.2% | 7.7% |
| Working capital | ||||||||
| Receivable days | 43 | — | 65 | 51 | 44 | 47 | 49 | 49 |
| Inventory days | 269 | — | 321 | 233 | 146 | 273 | 254 | 245 |
| Payable days | 0 | — | 30 | 29 | 19 | 21 | 30 | 31 |
| NWC days | 312 | — | 356 | 255 | 170 | 299 | 274 | 264 |
| Leverage | ||||||||
| Current ratio | 2.43 | — | 3.55 | 3.04 | 4.09 | 3.13 | 4.8 | 4.17 |
| Debt to EBITDA | 1.71 | — | 2.88 | 0.88 | 1.31 | 1.87 | 0.98 | 1.52 |
| Debt to equity | 0.37 | — | 0.35 | 0.26 | 0.2 | 0.2 | 0.13 | 0.18 |
| Interest coverage | 9.4 | 5.5 | 5.2 | 23 | 10.7 | 8.8 | 15.9 | 11.2 |
| Asset turnover | 0.77 | — | 0.64 | 0.89 | 0.91 | 0.81 | 0.81 | 0.72 |
| Return ratios | ||||||||
| Return on assets % | 8.3% | — | 3.9% | 15.9% | 6.9% | 5.3% | 7.4% | 5.5% |
| Return on capital employed % | 17.4% | — | 7.5% | 27.8% | 11.9% | 9.4% | 12.2% | 9.2% |
| Return on equity % | 13.3% | — | 5.7% | 22.2% | 9% | 6.9% | 9.2% | 7.3% |
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.