Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 68% | 68.1% | 68.9% | 65.3% | ||||
| 63.2% |
| 66.3% |
| 65% |
| 67.6% |
| EBITDA margin % | 20.5% | 21.3% | 24.5% | 16.3% | 14.3% | 17.7% | 15.5% | 16.6% |
| EBIT margin % | 17.4% | 18.5% | 21.6% | 13.8% | 12.1% | 15.6% | 12.9% | 13.8% |
| PAT margin % | 15.9% | 18.5% | 22.2% | 14.5% | 11.3% | 16% | 13.2% | 13.5% |
| Working capital | ||||||||
| Receivable days | 28 | 34 | 30 | 19 | 25 | 22 | 18 | 24 |
| Inventory days | 183 | 181 | 189 | 210 | 180 | 217 | 185 | 182 |
| Payable days | — | 101 | 68 | 94 | 100 | 104 | 102 | 106 |
| NWC days | — | 113 | 151 | 135 | 106 | 134 | 102 | 100 |
| Leverage | ||||||||
| Current ratio | 4.12 | 3.76 | 4.55 | 3.65 | 3.42 | 3.58 | 3 | 3.13 |
| Debt to EBITDA | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt to equity | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 169 | 96.4 | 112.9 | 94.6 | 66.8 | 100.5 | 82.9 | 82.1 |
| Asset turnover | 0.66 | 0.73 | 0.68 | 0.67 | 0.76 | 0.78 | 0.76 | 0.73 |
| Return ratios | ||||||||
| Return on assets % | 10.6% | 13.6% | 15.2% | 9.7% | 8.6% | 12.5% | 10.1% | 9.8% |
| Return on capital employed % | 17.7% | 21.8% | 23.2% | 15.5% | 13.5% | 19.3% | 16.5% | 16.4% |
| Return on equity % | 12% | 15.9% | 17.1% | 11.3% | 10.1% | 14.6% | 12% | 11.5% |
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.