Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 48.2% | 48.3% | 40.1% | 28.3% | 32.5% | 31.6% |
| EBITDA margin % | 15.2% | 19.8% | 17% | 22.7% | 16% | 17.6% | 17.9% | 17.5% |
| EBIT margin % | 15.2% | 19.2% | 15.5% | 21.1% | 14.9% | 17% | 17.3% | 16.9% |
| PAT margin % | 11.2% | 13.8% | 15.9% | 17.6% | 12.1% | 14.3% | 13.2% | 12.5% |
| Working capital | ||||||||
| Receivable days | — | — | 166 | 165 | 185 | 121 | 206 | 214 |
| Inventory days | — | — | 141 | 121 | 71 | 41 | 70 | 61 |
| Payable days | — | — | 207 | 152 | 253 | 147 | 182 | 132 |
| NWC days | — | — | 100 | 134 | 3 | 15 | 94 | 143 |
| Leverage | ||||||||
| Current ratio | — | — | 1.11 | 1.69 | 1.42 | 1.49 | 1.51 | 1.63 |
| Debt to EBITDA | — | — | 1.13 | 0.08 | 0.44 | 0.23 | 0.71 | 1.46 |
| Debt to equity | — | — | 0.17 | 0.01 | 0.07 | 0.06 | 0.18 | 0.33 |
| Interest coverage | 8 | 18.5 | 8.6 | 9.3 | 10.7 | 16.7 | 12.6 | 7.3 |
| Asset turnover | — | — | 0.51 | 0.5 | 0.59 | 0.86 | 0.72 | 0.71 |
| Return ratios | ||||||||
| Return on assets % | — | — | 8.1% | 8.8% | 7.1% | 12.3% | 9.4% | 8.9% |
| Return on capital employed % | — | — | 20.5% | 19.6% | 18.8% | 33.8% | 30.1% | 26.6% |
| Return on equity % | — | — | 14.2% | 12.7% | 12.2% | 21.8% | 18.7% | 16.3% |
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.