Standalone figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 93.9% | 93.9% | 94.4% | 94.5% | 94.3% | 94.1% | 95.2% |
| EBITDA margin % | 31.4% | 24.2% | 46.8% | 36% | 34.3% | 33.2% | 32% |
| EBIT margin % | 29.6% | 18.2% | 44.3% | 34.5% | 33% | 32% | 31% |
| PAT margin % | 23.2% | 24.1% | 35.3% | 28.4% | 26% | 28.1% | 26.7% |
| Working capital | |||||||
| Receivable days | 125 | 245 | 111 | 118 | 117 | 135 | 132 |
| Inventory days | 26 | 50 | 27 | 18 | 16 | 15 | 20 |
| Payable days | 1 | 4,492 | 2,348 | 1,595 | 1,483 | 1,371 | 1,118 |
| NWC days | 150 | -4,196 | -2,209 | -1,459 | -1,350 | -1,221 | -966 |
| Leverage | |||||||
| Current ratio | 1.61 | 1.76 | 1.87 | 1.82 | 1.95 | 2.02 | 2.15 |
| Debt to EBITDA | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt to equity | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 103.4 | 27.3 | 81.9 | 83.4 | 84.4 | 102.2 | 102.9 |
| Asset turnover | 0.7 | 0.25 | 0.49 | 0.7 | 0.7 | 0.69 | 0.69 |
| Return ratios | |||||||
| Return on assets % | 16.3% | 5.9% | 17.3% | 19.8% | 18.2% | 19.3% | 18.4% |
| Return on capital employed % | 51% | 14.7% | 49.3% | 56.5% | 51.1% | 46.3% | 43.6% |
| Return on equity % | 40.2% | 12.8% | 35.2% | 40.6% | 34.4% | 35.9% | 32.3% |
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.