Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 50.8% | 45% | 44.3% | 41.9% | 44.4% | 47.6% | 48.5% | 49.1% |
| EBITDA margin % | 23.7% | 21.1% | 22.6% | 21.6% | 22.9% | 24.8% | 28.6% | 29.2% |
| EBIT margin % | 21.1% | 18.4% | 20% | 19.1% | 20.6% | 22.7% | 26.8% | 27.3% |
| PAT margin % | 16% | 13.9% | 14.7% | 15.3% | 17% | 19.9% | 22.4% | 22% |
| Working capital | ||||||||
| Receivable days | 162 | 190 | 170 | 145 | 145 | 133 | 140 | 171 |
| Inventory days | 3 | 3 | 2 | 227 | 238 | 256 | 272 | 264 |
| Payable days | 0 | — | 7 | 138 | 124 | 128 | 99 | 92 |
| NWC days | 165 | — | 165 | 235 | 260 | 262 | 313 | 342 |
| Leverage | ||||||||
| Current ratio | 1.52 | 1.46 | 1.41 | 1.39 | 1.46 | 1.54 | 1.76 | 1.97 |
| Debt to EBITDA | — | — | — | 0 | 0 | 0 | 0 | 0 |
| Debt to equity | — | — | — | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 222.4 | 761.5 | 483.7 | 652.1 | 270.4 | 760.9 | 738.8 | 1,202.6 |
| Asset turnover | 0.59 | 0.54 | 0.48 | 0.46 | 0.5 | 0.52 | 0.59 | 0.62 |
| Return ratios | ||||||||
| Return on assets % | 9.4% | 7.5% | 7.1% | 7% | 8.6% | 10.3% | 13.1% | 13.7% |
| Return on capital employed % | 29.1% | 23.5% | 25.1% | 24.1% | 28.1% | 33.7% | 37.5% | 35.4% |
| Return on equity % | 21.4% | 18.2% | 19.1% | 19.6% | 22.1% | 25% | 26.8% | 25.5% |
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.