Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 45.2% | 49.3% | 48.6% | 48.2% |
| EBITDA margin % | 18.9% | 19.1% | 16.1% | 15.3% |
| EBIT margin % | 16.2% | 15.9% | 12.6% | 11.9% |
| PAT margin % | 12.4% | 12.9% | 11.8% | 11.6% |
| Working capital | ||||
| Receivable days | 65 | 77 | 83 | 74 |
| Inventory days | 137 | 147 | 165 | 169 |
| Payable days | 39 | 45 | 34 | 40 |
| NWC days | 164 | 178 | 214 | 203 |
| Leverage | ||||
| Current ratio | 2.35 | 5.31 | 5.88 | 5.28 |
| Debt to EBITDA | 0.57 | 0.2 | 0.11 | 0.1 |
| Debt to equity | 0.23 | 0.04 | 0.02 | 0.01 |
| Interest coverage | 18.2 | 21.7 | 40.3 | 51.4 |
| Asset turnover | 1.43 | 0.86 | 0.82 | 0.8 |
| Return ratios | ||||
| Return on assets % | 17.6% | 11% | 9.7% | 9.3% |
| Return on capital employed % | 33.5% | 23.2% | 15.4% | 14.6% |
| Return on equity % | 26.2% | 13.3% | 11.2% | 10.7% |
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.