Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 27.9% | 29.8% | 29.3% | 26.6% | ||||
Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 27.9% | 29.8% | 29.3% | 26.6% | ||||
| 28.5% |
| 29% |
| 29.3% |
| 29.9% |
| EBITDA margin % | 16.5% | 17% | 17.8% | 15.9% | 18% | 19.7% | 20.2% | 20.5% |
| EBIT margin % | 15.6% | 16.2% | 16.8% | 15.1% | 17.2% | 19% | 19.4% | 19.7% |
| PAT margin % | 15.5% | 17.1% | 16.4% | 15.1% | 15.5% | 16.7% | 16.3% | 16.7% |
| Working capital | ||||||||
| Receivable days | — | — | 36 | 17 | 18 | 17 | 17 | 17 |
| Inventory days | — | — | 28 | 18 | 20 | 19 | 20 | 21 |
| Payable days | — | — | 85 | 55 | 57 | 65 | 65 | 65 |
| NWC days | — | — | -22 | -19 | -20 | -28 | -28 | -27 |
| Leverage | ||||||||
| Current ratio | — | — | 2.51 | 2.13 | 1.71 | 1.19 | 1.49 | 1.71 |
| Debt to EBITDA | — | — | 0.02 | 0.02 | 0 | 0.09 | 0.08 | 0 |
| Debt to equity | — | — | 0 | 0 | 0 | 0.03 | 0.02 | 0 |
| Interest coverage | 1,420.9 | 2,083.3 | 892.7 | 715.8 | 188.7 | 184.6 | 164.2 | 365.5 |
| Asset turnover | — | — | 0.88 | 1.04 | 1.17 | 1.3 | 1.18 | 1.28 |
| Return ratios | ||||||||
| Return on assets % | — | — | 14.4% | 15.7% | 18.1% | 21.8% | 19.2% | 21.4% |
| Return on capital employed % | — | — | 23% | 23.3% | 28% | 38.4% | 37.7% | 37.8% |
| Return on equity % | — | — | 18.1% | 18.8% | 22.1% | 30.1% | 25.4% | 28.1% |
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.