Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 63.1% | 57.9% | 54.2% | 50.8% | 53.3% | 54.2% |
| EBITDA margin % | 14.4% | 16.3% | 21.6% | 18.1% | 15.4% | 15.8% | 21% | 19.9% |
| EBIT margin % | 12.9% | 14% | 19.1% | 15.8% | 13% | 13.4% | 18.9% | 17.6% |
| PAT margin % | 8.1% | 9.9% | 12.4% | 12.7% | 11.3% | 11.4% | 17% | 17.2% |
| Working capital | ||||||||
| Receivable days | 30 | 26 | 33 | 38 | 23 | 28 | 26 | 36 |
| Inventory days | 35 | 47 | 97 | 103 | 95 | 113 | 101 | 118 |
| Payable days | 38 | 32 | 89 | 75 | 63 | 75 | 57 | 74 |
| NWC days | 26 | 40 | 41 | 67 | 55 | 66 | 69 | 81 |
| Leverage | ||||||||
| Current ratio | 1.93 | 2.14 | 2.34 | 2.29 | 2.61 | 3.27 | 4.18 | 4.47 |
| Debt to EBITDA | 0.86 | 0.85 | 0.74 | 0.88 | 0.7 | 0 | 0 | 0 |
| Debt to equity | 0.08 | 0.09 | 0.1 | 0.12 | 0.08 | 0 | 0 | 0 |
| Interest coverage | 6.9 | 8.4 | 10.8 | 14 | 13.8 | 24.8 | 70.2 | 82.2 |
| Asset turnover | 0.56 | 0.53 | 0.52 | 0.6 | 0.6 | 0.7 | 0.76 | 0.66 |
| Return ratios | ||||||||
| Return on assets % | 4.5% | 5.2% | 6.4% | 7.6% | 6.8% | 8% | 12.9% | 11.4% |
| Return on capital employed % | 8.8% | 9.8% | 12.4% | 13.6% | 11.1% | 12.5% | 20.5% | 17.4% |
| Return on equity % | 5.4% | 6.2% | 7.7% | 9.5% | 8.1% | 9.1% | 14.7% | 12.9% |
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.