Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 72.7% | 74.7% | 74.3% | 70.3% | 67.8% | 69.4% | 70.3% | 69.6% |
| EBITDA margin % | 24% | 29.1% | 31.1% | 21.1% | 12.9% | 17% | 14.9% | 16% |
| EBIT margin % | 21.1% | 25.8% | 28.1% | 17.5% | 7.6% | 12.4% | 10.3% | 11.3% |
| PAT margin % | 16.7% | 23.5% | 23.3% | 15.9% | 6.7% | 11.4% | 8.3% | 9.6% |
| Working capital | ||||||||
| Receivable days | 54 | — | 30 | 72 | 85 | 83 | 90 | 88 |
| Inventory days | 325 | — | 377 | 344 | 280 | 274 | 403 | 370 |
| Payable days | 173 | — | 148 | 140 | 131 | 126 | 148 | 119 |
| NWC days | 207 | — | 260 | 276 | 234 | 232 | 345 | 339 |
| Leverage | ||||||||
| Current ratio | 1.48 | — | 2.19 | 1.74 | 1.79 | 2.25 | 1.71 | 1.7 |
| Debt to EBITDA | 0.98 | — | 0.32 | 0.6 | 0.96 | 0.42 | 1.27 | 1.08 |
| Debt to equity | 0.32 | — | 0.1 | 0.12 | 0.14 | 0.09 | 0.22 | 0.2 |
| Interest coverage | 52.4 | 47.7 | 111.9 | 55.5 | 8.1 | 13.9 | 8.8 | 9.3 |
| Asset turnover | 0.8 | — | 0.76 | 0.71 | 0.84 | 0.92 | 0.8 | 0.82 |
| Return ratios | ||||||||
| Return on assets % | 13.4% | — | 17.7% | 11.2% | 5.7% | 10.4% | 6.7% | 7.9% |
| Return on capital employed % | 23.6% | — | 26% | 16.8% | 7.8% | 15.7% | 12.9% | 14.5% |
| Return on equity % | 22.5% | — | 23% | 15% | 7.9% | 13.6% | 9.7% | 11.4% |
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.