Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 58.3% | 44% | 41.4% | 43% | 46.8% | 52.1% |
| EBITDA margin % | 30.7% | 36.3% | 29.3% | 24.8% | 24% | 25.8% | 28.5% | 34.9% |
| EBIT margin % | 25.6% | 31.6% | 25.5% | 22.8% | 21.5% | 21.9% | 22.8% | 28.7% |
| PAT margin % | 14.2% | 16.5% | 15.4% | 18.5% | 20% | 17.8% | 20.5% | 26.9% |
| Working capital | ||||||||
| Receivable days | — | — | 17 | 3 | 3 | 2 | 2 | 3 |
| Inventory days | — | — | 3,122 | 1,464 | 1,350 | 1,447 | 1,729 | 2,155 |
| Payable days | — | — | 146 | 25 | 34 | 23 | 35 | 56 |
| NWC days | — | — | 2,992 | 1,442 | 1,318 | 1,426 | 1,697 | 2,102 |
| Leverage | ||||||||
| Current ratio | — | — | 1.14 | 1.06 | 1.04 | 1.03 | 1.13 | 1.25 |
| Debt to EBITDA | — | — | 1.6 | 0.85 | 0.85 | 1.82 | 1.49 | 1.36 |
| Debt to equity | — | — | 0.57 | 0.33 | 0.28 | 0.61 | 0.47 | 0.36 |
| Interest coverage | 2.7 | 2.4 | 3 | 10.4 | 13.3 | 10 | 6.9 | 7.4 |
| Asset turnover | — | — | 0.23 | 0.32 | 0.32 | 0.27 | 0.27 | 0.23 |
| Return ratios | ||||||||
| Return on assets % | — | — | 3.5% | 6% | 6.3% | 4.8% | 5.6% | 6.3% |
| Return on capital employed % | — | — | 28.5% | 37.7% | 33% | 30.3% | 25.9% | 23% |
| Return on equity % | — | — | 18.6% | 28.9% | 27.9% | 23.2% | 22.6% | 20.4% |
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.