Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 33.1% | 36.5% | 37.5% | 32.8% | 33.5% | 38.8% | 40.1% | 40% |
| EBITDA margin % | 15.9% | 18.1% | 21.5% | 18.4% | 16.3% | 17.1% | 17.7% | 18% |
| EBIT margin % | 12.4% | 13.7% | 17.6% | 15.4% | 13.3% | 14.1% | 14.1% | 14.1% |
| PAT margin % | 7.4% | 9.8% | 13.2% | 11.8% | 9.7% | 10.8% | 10.7% | 10.3% |
| Working capital | ||||||||
| Receivable days | 43 | 25 | 26 | 21 | 19 | 19 | 22 | 21 |
| Inventory days | 85 | 119 | 85 | 104 | 92 | 94 | 102 | 99 |
| Payable days | — | — | — | 111 | 87 | 95 | 91 | 109 |
| NWC days | — | — | — | 15 | 23 | 18 | 33 | 11 |
| Leverage | ||||||||
| Current ratio | 1.34 | 1.42 | 1.71 | 1.92 | 1.84 | 1.71 | 1.87 | 1.78 |
| Debt to EBITDA | 0.48 | 0.24 | 0.05 | 0.05 | 0 | 0.03 | 0.08 | 0.06 |
| Debt to equity | 0.13 | 0.07 | 0.02 | 0.01 | 0 | 0.01 | 0.02 | 0.02 |
| Interest coverage | 8.8 | 8.6 | 60.4 | 62.6 | 19.1 | 36 | 25.8 | 17.2 |
| Asset turnover | 1.07 | 1.05 | 1.12 | 1.08 | 1.29 | 1.21 | 1.11 | 1.06 |
| Return ratios | ||||||||
| Return on assets % | 7.9% | 10.3% | 14.7% | 12.7% | 12.5% | 13.1% | 11.9% | 10.9% |
| Return on capital employed % | 18.8% | 20.9% | 29.1% | 27.5% | 25.1% | 25.4% | 22.6% | 22.2% |
| Return on equity % | 12.3% | 15.1% | 19.9% | 17.7% | 16.7% | 17.6% | 15.7% | 14.9% |
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.