Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 98.8% | 61.8% | 63.1% | 59.6% | 57.7% | 60.9% | 67.8% | 70.9% |
| EBITDA margin % | 18.5% | 22% | 27% | 20.5% | 15.2% | 20.2% | 24.5% | 25.1% |
| EBIT margin % | 16% | 19.2% | 24.2% | 18% | 12.7% | 17.7% | 21.2% | 22.4% |
| PAT margin % | 14% | 18.9% | 23.3% | 17.5% | 12.5% | 17.9% | 25.9% | 23.6% |
| Working capital | ||||||||
| Receivable days | 62 | — | 79 | 73 | 71 | 66 | 65 | 59 |
| Inventory days | 5,090 | — | 207 | 202 | 164 | 177 | 196 | 212 |
| Payable days | — | — | 131 | 114 | 103 | 151 | 188 | 192 |
| NWC days | — | — | 155 | 162 | 133 | 92 | 72 | 79 |
| Leverage | ||||||||
| Current ratio | 1.84 | — | 1.93 | 1.66 | 2.22 | 2.59 | 2.89 | 2.85 |
| Debt to EBITDA | 0.48 | — | 0.68 | 1.24 | 0.86 | 0.49 | 0.17 | 0.22 |
| Debt to equity | 0.09 | — | 0.17 | 0.26 | 0.13 | 0.09 | 0.03 | 0.04 |
| Interest coverage | 34.4 | 35.6 | 45.2 | 47.3 | 16.4 | 24.7 | 31.3 | 47.5 |
| Asset turnover | 0.79 | — | 0.67 | 0.67 | 0.71 | 0.69 | 0.57 | 0.56 |
| Return ratios | ||||||||
| Return on assets % | 11% | — | 15.6% | 11.7% | 8.9% | 12.4% | 14.6% | 13.2% |
| Return on capital employed % | 18.3% | — | 24.7% | 21.2% | 15.1% | 19.7% | 19.8% | 19.8% |
| Return on equity % | 14.6% | — | 22.1% | 17.6% | 12.1% | 16.6% | 18.5% | 16.3% |
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.