Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 64.7% | 65.9% | 63.3% | 61.1% | 63.9% | 69.3% | 71.3% | 68.5% |
| EBITDA margin % | — | 21.4% | 26.8% | 25.7% | 24% | 27.1% | 30.3% | 23.4% |
| EBIT margin % | — | 16.6% | 22.8% | 22.2% | 20.2% | 23.5% | 27.3% | 19.9% |
| PAT margin % | 15.3% | 18.3% | 17.8% | 22.6% | 15.9% | 24.6% | 27.1% | 18.5% |
| Working capital | ||||||||
| Receivable days | 93 | 103 | 80 | 78 | 67 | 59 | 74 | 65 |
| Inventory days | 240 | 255 | 221 | 250 | 210 | 234 | 241 | 266 |
| Payable days | 2 | 7 | 4 | 11 | 102 | 121 | 126 | 126 |
| NWC days | 331 | 351 | 297 | 317 | 175 | 172 | 189 | 205 |
| Leverage | ||||||||
| Current ratio | 4 | 3.45 | 3.79 | 4.31 | 4.95 | 5.19 | 5.77 | 4.63 |
| Debt to EBITDA | — | 0 | — | — | 0 | 0 | 0 | 0 |
| Debt to equity | 0 | 0 | — | — | 0 | 0 | 0 | 0 |
| Interest coverage | 34 | 83.2 | 75.3 | 132.7 | 135.2 | 245.3 | 409.6 | 253.9 |
| Asset turnover | 0.67 | 0.62 | 0.61 | 0.51 | 0.57 | 0.53 | 0.54 | 0.49 |
| Return ratios | ||||||||
| Return on assets % | 10.3% | 11.4% | 10.7% | 11.6% | 9.1% | 13.1% | 14.5% | 9.1% |
| Return on capital employed % | 3.8% | 17.7% | 17.8% | 16.6% | 15.3% | 18.7% | 20.4% | 14.6% |
| Return on equity % | 12% | 13.3% | 12.4% | 13.1% | 10.2% | 14.6% | 16.1% | 10.3% |
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.