Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 39.7% | 78.1% | 29.7% | 29.7% | 33.7% | 34% | 34.6% |
| EBITDA margin % | 13% | 13.1% | 9% | 7.9% | 8.4% | 11% | 11.9% | 12.4% |
| EBIT margin % | 11.5% | 10.3% | 6% | 5.6% | 6.4% | 8.9% | 9.9% | 10% |
| PAT margin % | 10.6% | 11.6% | 7.7% | 6% | 6.7% | 8.8% | 9.3% | 9.1% |
| Working capital | ||||||||
| Receivable days | 57 | 65 | 69 | 56 | 57 | 66 | 69 | 72 |
| Inventory days | 34 | 57 | 175 | 51 | 46 | 46 | 43 | 35 |
| Payable days | — | 1 | 9 | 2 | 68 | 74 | 65 | 69 |
| NWC days | — | 121 | 236 | 105 | 35 | 38 | 47 | 37 |
| Leverage | ||||||||
| Current ratio | 2.25 | 2.36 | 2.27 | 2.35 | 2.13 | 2.17 | 2.34 | 2.22 |
| Debt to EBITDA | 0.05 | 0.04 | 0.04 | 0 | 0 | 0 | 0 | 0 |
| Debt to equity | 0.01 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 51.4 | 30.1 | 30.6 | 30.3 | 22.5 | 21.6 | 20.3 | 13.9 |
| Asset turnover | 0.94 | 0.81 | 0.79 | 1.05 | 1.1 | 1.04 | 1.06 | 1.05 |
| Return ratios | ||||||||
| Return on assets % | 10% | 9.4% | 6.1% | 6.3% | 7.3% | 9.1% | 9.9% | 9.6% |
| Return on capital employed % | 21.4% | 17.4% | 11.6% | 12.4% | 15.3% | 19.4% | 20.5% | 20.5% |
| Return on equity % | 14.5% | 13.4% | 8.9% | 9.3% | 11.3% | 14.3% | 15.2% | 15.8% |
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.