Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 40.1% | 46.8% | 56.9% | 39.8% | 34.1% | 40.9% | 39.5% | 37% |
| EBITDA margin % | 24.9% | 29.9% | 39.5% | 24.1% | 18.6% | 22.9% | 21% | 18.6% |
| EBIT margin % | 21.2% | 27.3% | 36% | 21.5% | 16.2% | 19.7% | 17.3% | 15% |
| PAT margin % | 12.5% | 21.9% | 26.5% | 15.7% | 11.3% | 13.6% | 12% | 10% |
| Working capital | ||||||||
| Receivable days | 17 | 11 | 21 | 21 | 21 | 31 | 28 | 24 |
| Inventory days | 15 | 14 | 25 | 15 | 11 | 12 | 13 | 10 |
| Payable days | 2 | 28 | 55 | 31 | 36 | 43 | 35 | 34 |
| NWC days | 29 | -3 | -9 | 4 | -5 | -0 | 6 | -0 |
| Leverage | ||||||||
| Current ratio | 1.37 | 0.94 | 0.28 | 0.25 | 0.39 | 0.58 | 0.73 | 0.64 |
| Debt to EBITDA | 0.89 | 0.6 | 0.69 | 1.29 | 1.58 | 1.33 | 1.54 | 1.83 |
| Debt to equity | 0.36 | 0.24 | 0.25 | 0.41 | 0.47 | 0.41 | 0.42 | 0.45 |
| Interest coverage | 5.3 | 14.3 | 17 | 13.9 | 10.1 | 8.9 | 9.7 | 7.7 |
| Asset turnover | 0.89 | 0.8 | 0.55 | 0.72 | 0.83 | 0.74 | 0.71 | 0.68 |
| Return ratios | ||||||||
| Return on assets % | 11.1% | 17.5% | 14.6% | 11.4% | 9.4% | 10% | 8.5% | 6.7% |
| Return on capital employed % | 30.3% | 34% | 31.9% | 27.2% | 24.8% | 24.2% | 17.8% | 14.8% |
| Return on equity % | 20.6% | 29.5% | 24.2% | 20.8% | 18% | 18.3% | 15.5% | 13.2% |
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.