Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 52.2% | 54.4% | 45.2% | 41.5% | 44.6% | 45.1% |
| EBITDA margin % | 28.2% | 29.9% | 22.3% | 12.8% | 14.6% | 16.6% |
| EBIT margin % | 27.3% | 28.7% | 21.1% | 10.6% | 12.4% | 14.6% |
| PAT margin % | 20.7% | 22.1% | 16.3% | 9% | 10.2% | 11.6% |
| Working capital | ||||||
| Receivable days | 120 | 126 | 108 | 128 | 152 | 125 |
| Inventory days | 82 | 156 | 169 | 190 | 192 | 179 |
| Payable days | 87 | 108 | 78 | 85 | 95 | 85 |
| NWC days | 116 | 175 | 200 | 233 | 249 | 218 |
| Leverage | ||||||
| Current ratio | 3.3 | 4.16 | 4.65 | 4.05 | 3.36 | 3.27 |
| Debt to EBITDA | 0.17 | 0.07 | 0.02 | 0.21 | 0.43 | 0.42 |
| Debt to equity | 0.08 | 0.02 | 0 | 0.02 | 0.06 | 0.07 |
| Interest coverage | 53.5 | 33.6 | 30.9 | 23 | 26.6 | 23.9 |
| Asset turnover | 1.26 | 0.91 | 0.97 | 0.68 | 0.73 | 0.81 |
| Return ratios | ||||||
| Return on assets % | 26% | 20.2% | 15.8% | 6.1% | 7.4% | 9.4% |
| Return on capital employed % | 45.2% | 41.3% | 27.7% | 10.7% | 13.3% | 17.8% |
| Return on equity % | 34.5% | 24.8% | 18.6% | 7.4% | 9.3% | 12% |
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.