Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 37.9% | 43.8% | 43.9% | 28.1% | 30.2% | 34.5% | 33.1% | 35.9% |
| EBITDA margin % | 24.3% | 30.3% | 30.1% | 11.7% | 10.2% | 10.9% | 9.7% | 11.6% |
| EBIT margin % | 22.4% | 28.4% | 28.1% | 9.8% | 8.1% | 7.9% | 6.3% | 8.1% |
| PAT margin % | 14% | 19.1% | 22.6% | 7.6% | 6.3% | 6.4% | 4.9% | 5.9% |
| Working capital | ||||||||
| Receivable days | 43 | — | 56 | 79 | 83 | 81 | 90 | 95 |
| Inventory days | 66 | — | 98 | 95 | 77 | 111 | 95 | 91 |
| Payable days | 2 | — | 79 | 95 | 74 | 123 | 112 | 118 |
| NWC days | 107 | — | 74 | 79 | 86 | 69 | 73 | 68 |
| Leverage | ||||||||
| Current ratio | 1.89 | — | 3.48 | 2.1 | 2.02 | 2 | 1.89 | 1.78 |
| Debt to EBITDA | 0.63 | — | 0 | 0.17 | 0.35 | 0.14 | 0.58 | 0.49 |
| Debt to equity | 0.54 | — | 0 | 0.03 | 0.05 | 0.02 | 0.07 | 0.07 |
| Interest coverage | 7.5 | 26.5 | 99 | 29.6 | 12.5 | 12.3 | 10.3 | 14.4 |
| Asset turnover | 1.79 | — | 1.22 | 1.11 | 1.1 | 0.95 | 0.87 | 0.9 |
| Return ratios | ||||||||
| Return on assets % | 25.1% | — | 27.6% | 8.5% | 6.9% | 6% | 4.2% | 5.3% |
| Return on capital employed % | 65% | — | 43.7% | 17.7% | 13.7% | 12.2% | 8.8% | 11.5% |
| Return on equity % | 49.9% | — | 35.3% | 11.9% | 9.3% | 8.4% | 6% | 7.7% |
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.