Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 65.3% | 55.5% | 59.3% | 65.9% | 74.5% | 70.9% |
| EBITDA margin % | 27.7% | 29.2% | 28.5% | 26.4% | 32.1% | 37.7% | 38.4% | 24.1% |
| EBIT margin % | 23.6% | 23.9% | 24.6% | 22.7% | 28.7% | 34.5% | 33.8% | 16% |
| PAT margin % | 18.7% | 20.7% | 19.7% | 18.3% | 19.5% | 24.8% | 24.1% | 10.2% |
| Working capital | ||||||||
| Receivable days | — | — | 62 | 126 | 94 | 104 | 104 | 117 |
| Inventory days | — | — | 34 | 130 | 257 | 219 | 346 | 519 |
| Payable days | — | — | 4 | 5 | 17 | 28 | 11 | 10 |
| NWC days | — | — | 91 | 251 | 334 | 295 | 439 | 626 |
| Leverage | ||||||||
| Current ratio | — | — | 3.89 | 3.11 | 2.76 | 3.18 | 5.22 | 3.66 |
| Debt to EBITDA | — | — | 0 | 0.46 | 0.56 | 0.14 | 0.22 | 0.64 |
| Debt to equity | — | — | 0 | 0.15 | 0.25 | 0.07 | 0.09 | 0.1 |
| Interest coverage | 22.3 | 16 | 13.3 | 16.7 | 9.2 | 18.9 | 28.2 | 6.7 |
| Asset turnover | — | — | 0.9 | 0.95 | 1 | 1 | 0.83 | 0.52 |
| Return ratios | ||||||||
| Return on assets % | — | — | 17.7% | 17.4% | 19.5% | 24.9% | 20.1% | 5.3% |
| Return on capital employed % | — | — | 28.5% | 31.9% | 44.1% | 53.6% | 38.6% | 11.9% |
| Return on equity % | — | — | 23.1% | 22.9% | 26.9% | 32.3% | 24.2% | 6.3% |
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.