Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 27.9% | 27.8% | 29% | 31% | 31.5% | 32.2% | 28.5% | 30.6% |
| EBITDA margin % | 7.7% | 8.6% | 11% | 13.5% | 14.6% | 14.2% | 9.9% | 7.6% |
| EBIT margin % | 4% | 5.2% | 7.7% | 11% | 12.3% | 11.8% | 8% | 5.3% |
| PAT margin % | 0.7% | 0.3% | 2.1% | 9.5% | 8.9% | 9.4% | 8.2% | 6% |
| Working capital | ||||||||
| Receivable days | — | — | — | 51 | 36 | 43 | 53 | 50 |
| Inventory days | — | — | — | 51 | 49 | 53 | 57 | 76 |
| Payable days | — | — | — | 65 | 0 | 57 | 61 | 43 |
| NWC days | — | — | — | 38 | 86 | 39 | 49 | 82 |
| Leverage | ||||||||
| Current ratio | — | — | — | 1.48 | 1.55 | 5.56 | 2.72 | 4.24 |
| Debt to EBITDA | — | — | — | 1.37 | 0.48 | 0.56 | 2.14 | 3.06 |
| Debt to equity | — | — | — | 0.51 | 0.15 | 0.07 | 0.18 | 0.16 |
| Interest coverage | 1.1 | 1.1 | 1.8 | 4.1 | 8.9 | 13.4 | 14.2 | 12.1 |
| Asset turnover | — | — | — | 1.41 | 1.5 | 0.69 | 0.63 | 0.54 |
| Return ratios | ||||||||
| Return on assets % | — | — | — | 13.4% | 13.3% | 6.5% | 5.1% | 3.3% |
| Return on capital employed % | — | — | — | 22.3% | 27% | 15.7% | 9.3% | 5.7% |
| Return on equity % | — | — | — | 26.1% | 19.4% | 7.8% | 7.1% | 4.3% |
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.