Standalone figures
| Ratio | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 44.9% | 45.9% | 49.9% | 50.4% | 54.3% |
| EBITDA margin % | |||||
Standalone figures
| Ratio | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 44.9% | 45.9% | 49.9% | 50.4% | 54.3% |
| EBITDA margin % | |||||
| 15.2% |
| 20.4% |
| 23% |
| 24.1% |
| 20.8% |
| EBIT margin % | 15.1% | 16.7% | 18.6% | 19.6% | 14.9% |
| PAT margin % | 11.3% | 11.4% | 13.4% | 14.5% | 9.8% |
| Working capital | |||||
| Receivable days | — | 87 | 109 | 114 | 119 |
| Inventory days | — | 240 | 283 | 226 | 283 |
| Payable days | — | 98 | 124 | 103 | 144 |
| NWC days | — | 229 | 268 | 236 | 258 |
| Leverage | |||||
| Current ratio | — | 2.11 | 2.04 | 1.95 | 1.5 |
| Debt to EBITDA | — | 0.67 | 0.72 | 0.93 | 1.84 |
| Debt to equity | — | 0.14 | 0.15 | 0.21 | 0.35 |
| Interest coverage | 12.8 | 12.4 | 17.5 | 14.1 | 6.1 |
| Asset turnover | — | 0.77 | 0.65 | 0.65 | 0.54 |
| Return ratios | |||||
| Return on assets % | — | 8.7% | 8.7% | 9.4% | 5.3% |
| Return on capital employed % | — | 16.8% | 17.9% | 18.8% | 12.6% |
| Return on equity % | — | 11.9% | 12.4% | 14% | 8.9% |
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.