Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 87.8% | 86.3% | 84.6% | 83.9% | ||||
| 86.1% |
| 85.7% |
| 86.9% |
| 88.7% |
| EBITDA margin % | 18.5% | 17.5% | -19.6% | -4.5% | 25.4% | 28% | 29.6% | 30.7% |
| EBIT margin % | 13.7% | 14.3% | -30.1% | -11% | 21.7% | 24.6% | 26.2% | 27.4% |
| PAT margin % | 17.2% | 15.1% | 2.4% | 1.1% | 30.5% | 26.5% | 22.5% | 22.6% |
| Working capital | ||||||||
| Receivable days | — | — | 21 | 40 | 23 | 21 | 22 | 13 |
| Inventory days | — | — | 69 | 39 | 27 | 36 | 34 | 29 |
| Payable days | — | — | 320 | 304 | 133 | 163 | 246 | 370 |
| NWC days | — | — | -229 | -225 | -83 | -107 | -189 | -327 |
| Leverage | ||||||||
| Current ratio | — | — | 3.93 | 3.34 | 1.93 | 8.63 | 7.8 | 7.94 |
| Debt to EBITDA | — | — | — | — | 0 | 5.06 | 4.49 | 3.84 |
| Debt to equity | — | — | 0 | 0 | 0 | 0.92 | 0.8 | 0.68 |
| Interest coverage | — | — | — | — | — | 3 | 3.2 | 3.2 |
| Asset turnover | — | — | 0.03 | 0.06 | 0.54 | 0.31 | 0.3 | 0.31 |
| Return ratios | ||||||||
| Return on assets % | — | — | 0.1% | 0.1% | 16.6% | 8.1% | 6.8% | 7% |
| Return on capital employed % | — | — | 0.1% | 0% | 4.6% | 19% | 15.1% | 15.1% |
| Return on equity % | — | — | 0.1% | 0.1% | 21% | 17.3% | 13.6% | 13% |
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.