Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 98.6% | 61.7% | 61.3% | 59.2% | 56.6% | 57.3% | 59.4% | 61.3% |
| EBITDA margin % | 28% | 22.3% | 19.9% | 27.4% | 25.2% | 27.6% | 28.3% | 27.5% |
| EBIT margin % | 28% | 14.7% | 9.9% | 20.8% | 19.6% | 22.7% | 23.3% | 22.1% |
| PAT margin % | 16.4% | 10.4% | 8.6% | 17.2% | 13.8% | 15.9% | 15% | 9.8% |
| Working capital | ||||||||
| Receivable days | 126 | 133 | 158 | 145 | 156 | 147 | 158 | 180 |
| Inventory days | 3,138 | 158 | 226 | 159 | 140 | 127 | 156 | 177 |
| Payable days | — | — | 207 | 138 | 135 | 123 | 141 | 158 |
| NWC days | — | — | 177 | 165 | 162 | 151 | 173 | 199 |
| Leverage | ||||||||
| Current ratio | 1.56 | 1.66 | 1.78 | 1.67 | 1.36 | 1.58 | 1.58 | 1.52 |
| Debt to EBITDA | 1.67 | 2.93 | 4.96 | 2.27 | 2.32 | 1.79 | 1.59 | 1.63 |
| Debt to equity | 0.56 | 0.55 | 0.61 | 0.55 | 0.58 | 0.52 | 0.36 | 0.34 |
| Interest coverage | 19.4 | 5.7 | 6.4 | 13.7 | 7.7 | 7.6 | 8.9 | 11 |
| Asset turnover | 0.66 | 0.47 | 0.33 | 0.49 | 0.53 | 0.59 | 0.51 | 0.48 |
| Return ratios | ||||||||
| Return on assets % | 10.8% | 4.9% | 2.8% | 8.4% | 7.4% | 9.4% | 7.7% | 4.7% |
| Return on capital employed % | 30.8% | 11.7% | 6.6% | 17.2% | 17.7% | 22.1% | 19.7% | 16.2% |
| Return on equity % | 19.8% | 8.8% | 5.2% | 15.2% | 13.6% | 16.6% | 12.1% | 7.5% |
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.