Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 53% | 54.1% | 52.9% | 50.9% | 47.3% | 51.5% | 50.9% | 49.8% |
| EBITDA margin % | 22.6% | 24.8% | 24.6% | 24.4% | 23.1% | 23.5% | 23.3% | 23.3% |
| EBIT margin % | 21.2% | 22.3% | 22.4% | 22.4% | 21.3% | 21.7% | 21.3% | 21.4% |
| PAT margin % | 15.8% | 17.4% | 17.3% | 17.2% | 16.8% | 16.7% | 17.3% | 24.9% |
| Working capital | ||||||||
| Receivable days | 16 | 10 | 13 | 14 | 17 | 16 | 20 | 18 |
| Inventory days | 49 | 54 | 57 | 57 | 47 | 47 | 50 | 51 |
| Payable days | — | 1 | 145 | 129 | 110 | 126 | 133 | 152 |
| NWC days | — | 63 | -75 | -58 | -46 | -63 | -62 | -82 |
| Leverage | ||||||||
| Current ratio | — | — | 1.26 | 1.34 | 1.38 | 1.64 | 1.33 | 1.17 |
| Debt to EBITDA | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt to equity | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 313.5 | 88.6 | 100.2 | 121.1 | 131.1 | 46.6 | 39.1 | 39.2 |
| Asset turnover | 2.14 | 1.98 | 0.68 | 0.73 | 0.82 | 0.78 | 0.78 | 0.79 |
| Return ratios | ||||||||
| Return on assets % | 33.8% | 34.4% | 11.7% | 12.6% | 13.9% | 13.1% | 13.6% | 19.8% |
| Return on capital employed % | 83.9% | 81.7% | 31.2% | 20.5% | 22.3% | 22.5% | 22.4% | 22.7% |
| Return on equity % | 78.8% | 83.9% | 16.8% | 18.1% | 19.8% | 19.8% | 21.7% | 31.3% |
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.