Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 41.7% | 52.7% | 56.1% | 41.1% | 46.9% | 47.3% | 51.5% |
| EBITDA margin % | 21.6% | 15.9% | 28.7% | 35.1% | 21% | 25.9% | 24% | 25% |
| EBIT margin % | 18.4% | 12.6% | 26% | 33.1% | 18.8% | 23.4% | 21% | 21.6% |
| PAT margin % | 7.4% | 4.4% | 17.2% | 26.6% | 15.1% | 18.2% | 16.5% | 19.5% |
| Working capital | ||||||||
| Receivable days | — | — | 27 | 21 | 18 | 13 | 7 | 7 |
| Inventory days | — | — | 105 | 122 | 79 | 93 | 103 | 120 |
| Payable days | — | — | 41 | 76 | 54 | 60 | 54 | 55 |
| NWC days | — | — | 91 | 67 | 43 | 46 | 56 | 72 |
| Leverage | ||||||||
| Current ratio | — | — | 2.42 | 2.06 | 2.76 | 3.48 | 2.47 | 3.23 |
| Debt to EBITDA | — | — | 0.47 | 0.22 | 0.13 | 0 | 0.23 | 0.35 |
| Debt to equity | — | — | 0.27 | 0.13 | 0.04 | 0 | 0.06 | 0.07 |
| Interest coverage | 2.9 | 2.3 | 8.7 | 97.8 | 71.8 | 24.4 | 23.2 | 23.6 |
| Asset turnover | — | — | 1.3 | 1.19 | 1.13 | 0.98 | 0.82 | 0.68 |
| Return ratios | ||||||||
| Return on assets % | — | — | 22.3% | 31.6% | 17.1% | 17.9% | 13.6% | 13.4% |
| Return on capital employed % | — | — | 39.8% | 59.8% | 30.1% | 29.9% | 23% | 21.9% |
| Return on equity % | — | — | 34.6% | 43.7% | 21.2% | 21.2% | 16.5% | 16.2% |
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.