Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 72.7% | 72.5% | 70.1% | 69.8% | ||||
| 69.9% |
| 70% |
| 72.7% |
| 67.9% |
| EBITDA margin % | 45.4% | 46.2% | 43.6% | 43.9% | 43.8% | 38.6% | 33.2% | 22.4% |
| EBIT margin % | 42.4% | 43.3% | 40.5% | 41% | 40.6% | 33.4% | 27.9% | 15.8% |
| PAT margin % | 28.9% | 32.4% | 30.6% | 42.3% | 32.5% | 28.2% | 24.9% | 11.3% |
| Working capital | ||||||||
| Receivable days | 142 | 51 | 37 | 65 | 30 | 46 | 81 | 115 |
| Inventory days | 556 | 278 | 243 | 259 | 284 | 268 | 188 | 302 |
| Payable days | — | — | 100 | 97 | 56 | 49 | 87 | 145 |
| NWC days | — | — | 180 | 228 | 258 | 265 | 182 | 272 |
| Leverage | ||||||||
| Current ratio | 2.47 | 1.95 | 2.57 | 5.31 | 6.19 | 10.45 | 3.32 | 3.31 |
| Debt to EBITDA | 1.01 | 0.48 | 0.32 | 0.16 | 0.12 | 0.1 | 0.19 | 0.21 |
| Debt to equity | 0.29 | 0.24 | 0.13 | 0.06 | 0.04 | 0.02 | 0.03 | 0.02 |
| Interest coverage | 57.6 | 17.4 | 46.3 | 117 | 108.5 | 54.7 | 44.9 | 16.3 |
| Asset turnover | 0.48 | 0.75 | 0.74 | 0.73 | 0.68 | 0.47 | 0.42 | 0.4 |
| Return ratios | ||||||||
| Return on assets % | 14% | 24.3% | 22.7% | 30.9% | 22.1% | 13.4% | 10.5% | 4.5% |
| Return on capital employed % | 25.7% | 49.4% | 41.3% | 53.3% | 34.4% | 20.9% | 16.1% | 10.5% |
| Return on equity % | 18.5% | 34.5% | 29% | 36.7% | 24.7% | 14.6% | 11.7% | 5.1% |
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.