Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 35% | 37.3% | 37.2% | 35.4% | 40.7% | 39% |
| EBITDA margin % | 13.6% | 15.2% | 16.5% | 16.6% | 16.1% | 16.9% |
| EBIT margin % | 10.3% | 12.2% | 13.6% | 14% | 8.7% | 10.2% |
| PAT margin % | 6% | 8.6% | 9.6% | 9.6% | 0.9% | 2.6% |
| Working capital | ||||||
| Receivable days | 73 | 78 | 59 | 76 | 80 | 90 |
| Inventory days | 125 | 127 | 140 | 118 | 224 | 172 |
| Payable days | 72 | 106 | 45 | 45 | 57 | 71 |
| NWC days | 126 | 99 | 154 | 150 | 247 | 191 |
| Leverage | ||||||
| Current ratio | 1.12 | 1.3 | 1.42 | 1.06 | 1.38 | 1.34 |
| Debt to EBITDA | 3.28 | 1.89 | 2.85 | 5.53 | 5.15 | 3.92 |
| Debt to equity | 2.03 | 1.02 | 1.33 | 1.87 | 1.33 | 1.23 |
| Interest coverage | 2.9 | 6.2 | 6.6 | 6.2 | 1.1 | 1.5 |
| Asset turnover | 1.18 | 1.27 | 1.03 | 0.6 | 0.62 | 0.7 |
| Return ratios | ||||||
| Return on assets % | 7% | 10.9% | 9.9% | 5.8% | 0.6% | 1.9% |
| Return on capital employed % | 32.1% | 43.1% | 30.1% | 16% | 9% | 10.8% |
| Return on equity % | 27.2% | 30.4% | 27.1% | 19.5% | 1.4% | 4.9% |
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.