Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 61.4% | 64.1% | 66% | 63.6% | ||||
Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 61.4% | 64.1% | 66% | 63.6% | ||||
| 60.5% |
| 64% |
| 59.5% |
| 59.2% |
| EBITDA margin % | 23.6% | 31% | 35.5% | 26.6% | 24% | 28.8% | 20.1% | 24.4% |
| EBIT margin % | 19.7% | 27.5% | 32.3% | 23.1% | 20.7% | 25.8% | 16.9% | 21.7% |
| PAT margin % | 15.9% | 23.4% | 25.1% | 20% | 17.8% | 29.6% | 29.2% | 29.1% |
| Working capital | ||||||||
| Receivable days | 63 | 77 | 70 | 66 | 78 | 75 | 81 | 76 |
| Inventory days | 249 | 245 | 240 | 295 | 228 | 268 | 260 | 230 |
| Payable days | 0 | 1 | 85 | 75 | 54 | 60 | 58 | 101 |
| NWC days | 312 | 321 | 225 | 286 | 252 | 283 | 283 | 205 |
| Leverage | ||||||||
| Current ratio | 2.27 | 3.52 | 4.13 | 5.22 | 5.13 | 6.21 | 5.19 | 4.06 |
| Debt to EBITDA | 0.35 | 0.11 | 0.01 | 0 | 0 | 0 | 0 | 0 |
| Debt to equity | 0.06 | 0.02 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 22.2 | 70 | 1,231.3 | 721.7 | 531.6 | 956.9 | 503.2 | 770.2 |
| Asset turnover | 0.59 | 0.59 | 0.58 | 0.52 | 0.54 | 0.58 | 0.51 | 0.56 |
| Return ratios | ||||||||
| Return on assets % | 9.4% | 13.7% | 14.5% | 10.3% | 9.6% | 17.1% | 14.9% | 16.4% |
| Return on capital employed % | 15.6% | 21.4% | 23.6% | 15.3% | 14.4% | 27.1% | 19.5% | 23.6% |
| Return on equity % | 11% | 15.6% | 16.3% | 11.3% | 10.6% | 18.6% | 16.3% | 18.6% |
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.