Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 45% | 49.5% | 46.2% | 40.1% | 37.7% | 41% | 42.4% | 42.5% |
| EBITDA margin % | 16.6% | 17.4% | 16.1% | 13% | 11.4% | 12.8% | 13.2% | 12.8% |
| EBIT margin % | 15.3% | 15.4% | 14% | 11.4% | 10.1% | 11.3% | 11.9% | 11.3% |
| PAT margin % | 10.4% | 12.3% | 12.1% | 9.6% | 7.8% | 9.4% | 10.2% | 8.8% |
| Working capital | ||||||||
| Receivable days | 32 | 42 | 42 | 56 | 50 | 54 | 48 | 47 |
| Inventory days | 132 | 144 | 155 | 133 | 92 | 91 | 85 | 88 |
| Payable days | 1 | 1 | 2 | 75 | 8 | 93 | 97 | 103 |
| NWC days | 163 | 185 | 194 | 113 | 134 | 52 | 35 | 32 |
| Leverage | ||||||||
| Current ratio | 1.57 | 1.72 | 2.05 | 1.98 | 1.97 | 1.87 | 1.88 | 1.84 |
| Debt to EBITDA | 1 | 1.23 | 0.75 | 1.25 | 0.97 | 0.79 | 0.88 | 0.91 |
| Debt to equity | 0.48 | 0.46 | 0.23 | 0.34 | 0.28 | 0.25 | 0.28 | 0.3 |
| Interest coverage | 19.1 | 11.7 | 19.4 | 30.6 | 9.3 | 17.1 | 15 | 10.2 |
| Asset turnover | 1.49 | 1.14 | 1.14 | 1.2 | 1.45 | 1.43 | 1.34 | 1.37 |
| Return ratios | ||||||||
| Return on assets % | 15.6% | 14% | 13.8% | 11.5% | 11.2% | 13.4% | 13.7% | 12.1% |
| Return on capital employed % | 53.1% | 41.3% | 33.6% | 29.8% | 30.4% | 34.3% | 36.7% | 35.1% |
| Return on equity % | 30.3% | 26.6% | 23% | 20.2% | 19.7% | 23.8% | 24.7% | 22.5% |
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.