Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 37.3% | 40.9% | 35.2% | 35.7% | ||||
| 38.4% |
| 42.6% |
| 39.6% |
| 36.4% |
| EBITDA margin % | 21.3% | 23% | 17.1% | 18.8% | 25.8% | 24.6% | 21.8% | 18.1% |
| EBIT margin % | 19.6% | 19.6% | 13% | 16.6% | 24.2% | 21.8% | 19.5% | 15.7% |
| PAT margin % | 12.4% | 16.2% | 10.3% | 13.5% | 19.5% | 18.8% | 17.7% | 15.2% |
| Working capital | ||||||||
| Receivable days | — | — | 57 | 65 | 57 | 65 | 61 | 64 |
| Inventory days | — | — | 55 | 62 | 58 | 64 | 75 | 69 |
| Payable days | — | — | 50 | 46 | 33 | 43 | 41 | 42 |
| NWC days | — | — | 62 | 80 | 83 | 86 | 95 | 91 |
| Leverage | ||||||||
| Current ratio | — | — | 3.93 | 3.57 | 5.5 | 8.67 | 8.26 | 7.96 |
| Debt to EBITDA | — | — | 0.46 | 0.17 | 0.03 | 0 | 0 | 0 |
| Debt to equity | — | — | 0.12 | 0.06 | 0.02 | 0 | 0 | 0 |
| Interest coverage | 125.7 | 46.4 | 26.7 | 67.6 | 178.4 | 214 | 311.4 | 155.3 |
| Asset turnover | — | — | 1.17 | 1.51 | 1.71 | 0.95 | 0.91 | 0.82 |
| Return ratios | ||||||||
| Return on assets % | — | — | 12% | 20.4% | 33.3% | 18% | 16.1% | 12.4% |
| Return on capital employed % | — | — | 20.3% | 38.3% | 63.6% | 29.3% | 25.8% | 19.9% |
| Return on equity % | — | — | 15.6% | 26.2% | 38.8% | 19.7% | 17.6% | 13.8% |
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.