Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 19.2% | 11.9% | ||||
| 14.8% |
| 15.9% |
| 21.2% |
| 23% |
| EBITDA margin % | 11.2% | 10.7% | 11.2% | 5.6% | 6.6% | 7.8% | 12.5% | 13.6% |
| EBIT margin % | 10.5% | 10% | 10.5% | 5.1% | 6.1% | 7% | 11.9% | 12.9% |
| PAT margin % | 8.2% | 9% | 9.4% | 4.9% | 5.8% | 7.2% | 11.1% | 12.3% |
| Working capital | ||||||||
| Receivable days | — | — | 2 | 2 | 6 | 3 | 3 | 2 |
| Inventory days | — | — | 44 | 73 | 59 | 67 | 51 | 61 |
| Payable days | — | — | 30 | 26 | 26 | 28 | 35 | 22 |
| NWC days | — | — | 16 | 49 | 39 | 43 | 19 | 41 |
| Leverage | ||||||||
| Current ratio | — | — | 5.69 | 5.07 | 5.88 | 6.3 | 6.18 | 5.03 |
| Debt to EBITDA | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt to equity | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 265.4 | 312.1 | 825.9 | 230.8 | 415.6 | 754.7 | 1,373.4 | 1,134.4 |
| Asset turnover | — | — | 1.83 | 2.09 | 1.96 | 1.86 | 1.59 | 1.35 |
| Return ratios | ||||||||
| Return on assets % | — | — | 17.3% | 10.3% | 11.3% | 13.4% | 17.7% | 16.6% |
| Return on capital employed % | — | — | 26.5% | 16.8% | 18% | 21.5% | 29.8% | 27.7% |
| Return on equity % | — | — | 20.3% | 12.3% | 13.2% | 15.5% | 20.6% | 19.2% |
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.