Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 54.9% | 68.5% | ||||
| 59.8% |
| 61.2% |
| 50.1% |
| 59.9% |
| EBITDA margin % | 34.9% | 34.9% | 44.5% | 51.5% | 40.2% | 37.3% | 26.4% | 25.6% |
| EBIT margin % | 34.7% | 34.2% | 44.1% | 50.8% | 39.6% | 36.5% | 25.7% | 25% |
| PAT margin % | 26.4% | 29.5% | 35.9% | 43.1% | 33.9% | 31.3% | 21.3% | 20.3% |
| Working capital | ||||||||
| Receivable days | — | — | 17 | 12 | 10 | 13 | 4 | 2 |
| Inventory days | — | — | 750 | 1,663 | 1,609 | 2,181 | 1,539 | 1,925 |
| Payable days | — | — | 55 | 76 | 97 | 119 | 65 | 59 |
| NWC days | — | — | 711 | 1,600 | 1,522 | 2,075 | 1,478 | 1,869 |
| Leverage | ||||||||
| Current ratio | — | — | 2.19 | 2.16 | 2.18 | 2.25 | 2.1 | 2.03 |
| Debt to EBITDA | — | — | 0.01 | 0.01 | 0.01 | 1.12 | 1.62 | 2.5 |
| Debt to equity | — | — | 0 | 0 | 0 | 0.13 | 0.15 | 0.28 |
| Interest coverage | 22.6 | 43.9 | 79.9 | 61.9 | 33.3 | 14.7 | 9 | 15.1 |
| Asset turnover | — | — | 0.35 | 0.22 | 0.21 | 0.16 | 0.18 | 0.18 |
| Return ratios | ||||||||
| Return on assets % | — | — | 12.5% | 9.5% | 7.2% | 5.1% | 3.8% | 3.6% |
| Return on capital employed % | — | — | 27.6% | 22.6% | 17.4% | 13% | 10.3% | 11.2% |
| Return on equity % | — | — | 21.3% | 16.1% | 12.1% | 9.4% | 7.7% | 8.7% |
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.