Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 38.1% | 40.8% | 42.9% | 37.4% | ||||
| 35.7% |
| 40% |
| 40.1% |
| 40.8% |
| EBITDA margin % | 14.7% | 16.8% | 18.2% | 15.3% | 14.2% | 16.7% | 16.5% | 16.2% |
| EBIT margin % | 12.5% | 13.8% | 15.1% | 12.7% | 11.7% | 13.7% | 13.3% | 12.9% |
| PAT margin % | 8% | 12.3% | 11.3% | 9.7% | 8.8% | 10.2% | 10.6% | 10.5% |
| Working capital | ||||||||
| Receivable days | 40 | 36 | 51 | 39 | 37 | 36 | 40 | 40 |
| Inventory days | 100 | 127 | 159 | 162 | 129 | 123 | 132 | 132 |
| Payable days | 2 | 110 | 150 | 128 | 100 | 95 | 94 | 90 |
| NWC days | 138 | 53 | 60 | 73 | 66 | 63 | 79 | 81 |
| Leverage | ||||||||
| Current ratio | 1.58 | 1.49 | 1.69 | 1.4 | 1.34 | 1.78 | 2.08 | 2.18 |
| Debt to EBITDA | 0 | 0.03 | 0.14 | 0.44 | 0.5 | 0.04 | 0 | 0 |
| Debt to equity | 0 | 0.01 | 0.05 | 0.14 | 0.16 | 0.01 | 0 | 0 |
| Interest coverage | 35.7 | 28.7 | 29.1 | 24.4 | 13.8 | 22.1 | 30.9 | 33.6 |
| Asset turnover | 1.5 | 1.31 | 1.12 | 1.17 | 1.28 | 1.32 | 1.24 | 1.16 |
| Return ratios | ||||||||
| Return on assets % | 12% | 16.1% | 12.7% | 11.3% | 11.2% | 13.4% | 13.2% | 12.2% |
| Return on capital employed % | 32.6% | 36.1% | 30.1% | 27.4% | 27% | 27.9% | 25.2% | 23.6% |
| Return on equity % | 20.6% | 26.6% | 20.8% | 19.9% | 19.3% | 20.3% | 19% | 17.3% |
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.