Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 47.5% | 51.8% | 54.4% | 47.4% | ||||
Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 47.5% | 51.8% | 54.4% | 47.4% | ||||
| 47% |
| 45.5% |
| 48.3% |
| 44.9% |
| EBITDA margin % | 18.8% | 21.6% | 24.1% | 17.3% | 13.7% | 12.9% | 14% | 14% |
| EBIT margin % | 15.9% | 18.6% | 20.7% | 14.4% | 10.5% | 8.7% | 9.8% | 10.1% |
| PAT margin % | 11% | 16.4% | 18% | 12.2% | 10.9% | 8.8% | 9% | 10.7% |
| Working capital | ||||||||
| Receivable days | — | — | 74 | 77 | 64 | 71 | 74 | 77 |
| Inventory days | — | — | 116 | 97 | 88 | 87 | 91 | 87 |
| Payable days | — | — | 128 | 86 | 72 | 86 | 85 | 98 |
| NWC days | — | — | 62 | 89 | 80 | 71 | 80 | 66 |
| Leverage | ||||||||
| Current ratio | — | — | 3.13 | 2.73 | 2.82 | 2.66 | 3.19 | 3.32 |
| Debt to EBITDA | — | — | 0 | 0.08 | 0.01 | 0.02 | 0.01 | 0.01 |
| Debt to equity | — | — | 0 | 0.02 | 0 | 0 | 0 | 0 |
| Interest coverage | 179.1 | 342.5 | 421.2 | 274.5 | 345.4 | 227.4 | 99.8 | 212.7 |
| Asset turnover | — | — | 0.77 | 0.93 | 0.93 | 0.73 | 0.77 | 0.76 |
| Return ratios | ||||||||
| Return on assets % | — | — | 13.8% | 11.4% | 10.2% | 6.4% | 7% | 8.2% |
| Return on capital employed % | — | — | 21.7% | 19.5% | 16% | 10.3% | 11.5% | 12.7% |
| Return on equity % | — | — | 17% | 14.1% | 12% | 7.6% | 8.2% | 9.8% |
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.