Standalone figures
| Ratio | Mar 2022 | Dec 2022 | Mar 2023 | Dec 2023 | Mar 2024 | Dec 2024 | Mar 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 47.9% | 44.4% | 44.5% | 46.9% | 47.6% | 49% | 49.3% | 50.4% |
| EBITDA margin % | 13.1% | 14.1% | 14.5% | 15.6% | 15.9% | 16% | 15.9% | 15.6% |
| EBIT margin % | 9.5% | 11.1% | 11.5% | 12.6% | 12.9% | 12.9% | 12.7% | 12.5% |
| PAT margin % | 10.4% | 11.6% | 12.1% | 12.3% | 12.5% | 12.8% | 12.8% | 12.6% |
| Working capital | ||||||||
| Receivable days | — | 48 | — | 37 | — | 33 | — | 29 |
| Inventory days | — | 75 | — | 70 | — | 71 | — | 73 |
| Payable days | — | 96 | — | 93 | — | 96 | — | 103 |
| NWC days | — | 26 | — | 14 | — | 8 | — | -0 |
| Leverage | ||||||||
| Current ratio | — | 1.73 | — | 2.17 | — | 2.63 | — | 2.72 |
| Debt to EBITDA | — | 0.2 | — | 0.14 | — | 0 | — | 0 |
| Debt to equity | — | 0.03 | — | 0.02 | — | 0 | — | 0 |
| Interest coverage | 34.8 | 45.2 | 56.8 | 66.3 | 52.1 | 65.2 | 75.1 | 110.5 |
| Asset turnover | — | 0.75 | — | 0.73 | — | 0.69 | — | 0.7 |
| Return ratios | ||||||||
| Return on assets % | — | 8.8% | — | 9% | — | 8.9% | — | 8.8% |
| Return on capital employed % | — | 12.6% | — | 13.7% | — | 13.3% | — | 13.3% |
| Return on equity % | — | 11.5% | — | 11.4% | — | 10.9% | — | 10.8% |
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.