Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 56.3% | 73.7% | 64.9% | 53.3% | 59.2% | 65.3% | 63.3% | 58.6% |
| EBITDA margin % | 24.1% | 32.5% | 25.1% | 17.3% | 25.9% | 29.3% | 22.8% | 32.6% |
| EBIT margin % | 21.7% | 30.9% | 23.3% | 15.3% | 24.1% | 27.6% | 20.3% | 31.2% |
| PAT margin % | 17.8% | 24.7% | 20.2% | 13% | 19.8% | 23.3% | 22.3% | 30.3% |
| Working capital | ||||||||
| Receivable days | 97 | — | 65 | 84 | 59 | 102 | 133 | 103 |
| Inventory days | 77 | — | 100 | 105 | 107 | 96 | 226 | 173 |
| Payable days | 62 | — | 73 | 72 | 49 | 0 | 7 | 75 |
| NWC days | 112 | — | 92 | 117 | 117 | 198 | 352 | 200 |
| Leverage | ||||||||
| Current ratio | 4.8 | — | 5.89 | 4.46 | 7.58 | 15.39 | 13.16 | 4.65 |
| Debt to EBITDA | — | — | 0 | 0.38 | 0.14 | 0.24 | 0.3 | 0.44 |
| Debt to equity | — | — | 0 | 0.06 | 0.04 | 0.04 | 0.04 | 0.11 |
| Interest coverage | 191.2 | 100.4 | 98.9 | 189.5 | 54.6 | 30.1 | 27.8 | 51.7 |
| Asset turnover | 0.92 | — | 0.94 | 0.76 | 0.84 | 0.53 | 0.49 | 0.65 |
| Return ratios | ||||||||
| Return on assets % | 16.4% | — | 19% | 9.9% | 16.7% | 12.5% | 11% | 19.6% |
| Return on capital employed % | 28.8% | — | 29.3% | 17.9% | 27.6% | 23.1% | 17.4% | 35.4% |
| Return on equity % | 20% | — | 22.1% | 12.2% | 18.9% | 13.2% | 12% | 24% |
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.