Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 85.2% | 83.9% | 82.1% | 83.6% | 82.2% | 81.2% | 70.6% | 65.6% |
| EBITDA margin % | 37.2% | 34.9% | 37.6% | 39.8% | 38% | 30.5% | 28.7% | 33.6% |
| EBIT margin % | 33.7% | 30.5% | 34.2% | 35.6% | 33.1% | 23.6% | 18% | 25.1% |
| PAT margin % | 31.8% | 28.6% | 31.6% | 34.3% | 29.9% | 20.2% | 4.6% | 13.4% |
| Working capital | ||||||||
| Receivable days | 31 | 50 | 37 | 41 | 63 | 59 | 51 | 62 |
| Inventory days | 206 | 145 | 119 | 155 | 98 | 119 | 140 | 71 |
| Payable days | — | — | 159 | 177 | 128 | 181 | 158 | 128 |
| NWC days | — | — | -3 | 19 | 33 | -3 | 33 | 4 |
| Leverage | ||||||||
| Current ratio | 1.89 | 3.01 | 2.93 | 3.49 | 1.95 | 0.83 | 0.63 | 0.6 |
| Debt to EBITDA | — | — | 0 | 0 | 0.63 | 5.57 | 4.55 | 3.39 |
| Debt to equity | — | — | 0 | 0 | 0.14 | 1 | 0.88 | 0.65 |
| Interest coverage | 14.7 | 175.9 | 499.6 | 154.4 | 22 | 6.7 | 1.5 | 3.1 |
| Asset turnover | 0.61 | 0.69 | 0.63 | 0.57 | 0.48 | 0.28 | 0.33 | 0.32 |
| Return ratios | ||||||||
| Return on assets % | 19.4% | 19.6% | 20% | 19.4% | 14.3% | 5.6% | 1.5% | 4.2% |
| Return on capital employed % | 28.6% | 25.9% | 26.5% | 25.7% | 20.4% | 13.8% | 9.3% | 13.4% |
| Return on equity % | 24.7% | 22.4% | 22.3% | 21.7% | 17.9% | 11.9% | 3.1% | 7.6% |
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.