Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 59.3% | 59% | 56.7% | 51.2% | 51.4% | 58% | 54.8% | 51.6% |
| EBITDA margin % | 26.6% | 26.4% | 26.4% | 24.9% | 24.4% | 26.7% | 23.6% | 23.6% |
| EBIT margin % | 25.4% | 25% | 25.1% | 23.6% | 23% | 25.2% | 22% | 21.9% |
| PAT margin % | 30.9% | 21.6% | 19.6% | 21.3% | 19.7% | 7.7% | 15.2% | 16% |
| Working capital | ||||||||
| Receivable days | 23 | 20 | 14 | 18 | 15 | 21 | 24 | 22 |
| Inventory days | 97 | 107 | 95 | 85 | 58 | 67 | 63 | 54 |
| Payable days | 8 | 4 | 108 | 67 | 70 | 90 | 119 | 100 |
| NWC days | 111 | 123 | 1 | 36 | 4 | -2 | -32 | -24 |
| Leverage | ||||||||
| Current ratio | 1.12 | 1.2 | 1.55 | 2.62 | 3.03 | 0.9 | 0.97 | 0.62 |
| Debt to EBITDA | 0.21 | 0.02 | 0 | 0 | 0.01 | 0.88 | 1.23 | 1.25 |
| Debt to equity | 0.06 | 0 | 0 | 0 | 0 | 0.21 | 0.31 | 0.36 |
| Interest coverage | 23.7 | 25.1 | 65.9 | 217.5 | 619 | 19.2 | 11.6 | 11.4 |
| Asset turnover | 0.85 | 0.79 | 0.81 | 0.78 | 0.73 | 0.65 | 0.67 | 0.71 |
| Return ratios | ||||||||
| Return on assets % | 26.3% | 17% | 15.9% | 16.7% | 14.3% | 5% | 10.1% | 11.3% |
| Return on capital employed % | 30.9% | 28.5% | 28% | 23.8% | 21.8% | 26.8% | 23.8% | 26% |
| Return on equity % | 35.6% | 23% | 19.3% | 18.8% | 16.1% | 6.8% | 16.1% | 19.3% |
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.