Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 51.9% | 51.6% | 46.1% | 52.8% | 54.3% | 52.9% | 52.5% | 49.4% |
| EBITDA margin % | 14.2% | 13.4% | 12.5% | 15.4% | 15.9% | 15.7% | 15.2% | 13.1% |
| EBIT margin % | 12.5% | 10.7% | 9.7% | 13.2% | 14.2% | 13.9% | 13.2% | 11.2% |
| PAT margin % | 8.6% | 9.6% | 8.4% | 10.4% | 11.7% | 12.8% | 12.9% | 10% |
| Working capital | ||||||||
| Receivable days | 81 | — | 63 | 42 | 38 | 39 | 51 | 49 |
| Inventory days | 101 | — | 96 | 154 | 167 | 148 | 163 | 139 |
| Payable days | 53 | — | 81 | 104 | 93 | 75 | 77 | 77 |
| NWC days | 129 | — | 78 | 92 | 112 | 112 | 137 | 111 |
| Leverage | ||||||||
| Current ratio | — | — | 2.6 | 3.05 | 3.23 | 3.72 | 3.8 | 4.26 |
| Debt to EBITDA | 0.1 | — | 0.08 | 0.09 | 0.06 | 0.06 | 0.05 | 0 |
| Debt to equity | 0.03 | — | 0.01 | 0.02 | 0.02 | 0.01 | 0.01 | 0 |
| Interest coverage | 56.6 | 33 | 32.4 | 46.5 | 54.1 | 60.6 | 44.2 | 43.8 |
| Asset turnover | 1.23 | — | 0.94 | 1.01 | 1.08 | 1.03 | 1.04 | 1.05 |
| Return ratios | ||||||||
| Return on assets % | 10.6% | — | 7.9% | 10.5% | 12.7% | 13.1% | 13.4% | 10.4% |
| Return on capital employed % | — | — | 14.5% | 20.9% | 24.9% | 23.7% | 21.6% | 18.5% |
| Return on equity % | 16.4% | — | 11.6% | 14.9% | 17.9% | 17.8% | 18.3% | 13.9% |
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.