Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 78.2% | 55.5% | 60% | 54.3% | 49.5% | 51.9% | 51.4% | 51.5% |
| EBITDA margin % | 25% | 26.1% | 31% | 23.9% | 17.5% | 23.7% | 23.3% | 20.9% |
| EBIT margin % | 18.7% | 18.4% | 24% | 18.5% | 11.8% | 16.8% | 16.8% | 13.9% |
| PAT margin % | 14.9% | 19.8% | 20.1% | 17.1% | 11% | 15.5% | 15.6% | 11.3% |
| Working capital | ||||||||
| Receivable days | 40 | 50 | 46 | 48 | 47 | 61 | 56 | 55 |
| Inventory days | 228 | 100 | 144 | 158 | 117 | 104 | 124 | 119 |
| Payable days | — | — | 100 | 78 | 36 | 73 | 54 | 64 |
| NWC days | — | — | 90 | 129 | 128 | 91 | 126 | 110 |
| Leverage | ||||||||
| Current ratio | 1.76 | 1.28 | 1.35 | 1.22 | 1.2 | 1.28 | 1.33 | 1.02 |
| Debt to EBITDA | 0.63 | 0.69 | 0.5 | 1.24 | 1.9 | 1.38 | 1.33 | 1.79 |
| Debt to equity | 0.18 | 0.17 | 0.15 | 0.35 | 0.43 | 0.34 | 0.31 | 0.37 |
| Interest coverage | 121.8 | 155.4 | 156.9 | 249.7 | 32.8 | 18.4 | 18.2 | 13.4 |
| Asset turnover | 0.82 | 0.71 | 0.72 | 0.76 | 0.8 | 0.68 | 0.67 | 0.61 |
| Return ratios | ||||||||
| Return on assets % | 12.2% | 14% | 14.4% | 13% | 8.8% | 10.6% | 10.5% | 6.9% |
| Return on capital employed % | 25.1% | 21.9% | 26.7% | 28% | 17.9% | 21.1% | 21.3% | 14.5% |
| Return on equity % | 16.7% | 18.8% | 19.2% | 20.4% | 14.2% | 16.2% | 15.7% | 11.1% |
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.