Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 45.5% | 60.2% | 57.4% | 51.4% | 45% | 44.8% | 44.3% | 37.2% |
| EBITDA margin % | 17.1% | 35.7% | 29.6% | 25.7% | 19.3% | 16.3% | 11.6% | 8.5% |
| EBIT margin % | 14.1% | 32.2% | 25.9% | 22.8% | 16.8% | 13.1% | 7.6% | 4.5% |
| PAT margin % | 7.7% | 24.4% | 19.6% | 19.4% | 15.5% | 15.9% | 10.9% | 7.2% |
| Working capital | ||||||||
| Receivable days | 70 | 60 | 71 | — | 72 | 82 | 89 | 82 |
| Inventory days | 87 | 96 | 99 | — | 98 | 92 | 117 | 93 |
| Payable days | — | — | — | — | 63 | 61 | 77 | 76 |
| NWC days | — | — | — | — | 107 | 114 | 129 | 99 |
| Leverage | ||||||||
| Current ratio | 1.05 | 1.36 | 2.95 | — | 4.61 | 4.99 | 3.29 | 2.86 |
| Debt to EBITDA | 0.87 | 0.24 | 0.03 | — | 0 | 0 | 0.06 | 0.06 |
| Debt to equity | 0.25 | 0.13 | 0.01 | — | 0 | 0 | 0.01 | 0 |
| Interest coverage | 6 | 35.7 | 117.2 | 402.3 | 389.4 | 229.9 | 90.3 | 60.3 |
| Asset turnover | 0.98 | 1.09 | 0.83 | — | 0.99 | 0.81 | 0.7 | 0.69 |
| Return ratios | ||||||||
| Return on assets % | 7.6% | 26.6% | 16.3% | — | 15.4% | 12.9% | 7.6% | 5% |
| Return on capital employed % | 22% | 52.1% | 27.8% | — | 22.5% | 16.6% | 10.8% | 7.3% |
| Return on equity % | 13% | 36.5% | 19.2% | — | 17.9% | 14.7% | 8.8% | 5.9% |
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.