Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 57.7% | 48.5% | 55.2% | 53.9% | 53% | 52.7% |
| EBITDA margin % | 20.5% | 13.5% | 19.9% | 20.1% | 19.7% | 18.6% |
| EBIT margin % | 17.9% | 11% | 17.3% | 18.1% | 18.1% | 16.8% |
| PAT margin % | 12.8% | 9.7% | 15% | 14.5% | 14.6% | 13.8% |
| Working capital | ||||||
| Receivable days | — | — | 175 | 132 | 113 | 149 |
| Inventory days | — | — | 279 | 313 | 243 | 248 |
| Payable days | — | — | 153 | 123 | 80 | 113 |
| NWC days | — | — | 301 | 323 | 276 | 284 |
| Leverage | ||||||
| Current ratio | — | — | 1.54 | 1.92 | 1.95 | 1.91 |
| Debt to EBITDA | — | — | 1.39 | 1.04 | 0.66 | 0.8 |
| Debt to equity | — | — | 0.32 | 0.22 | 0.16 | 0.15 |
| Interest coverage | 4.5 | 4.4 | 5.9 | 7.1 | 9.3 | 9.7 |
| Asset turnover | — | — | 0.65 | 0.65 | 0.8 | 0.67 |
| Return ratios | ||||||
| Return on assets % | — | — | 9.8% | 9.5% | 11.7% | 9.2% |
| Return on capital employed % | — | — | 22.2% | 23.1% | 25.1% | 21.1% |
| Return on equity % | — | — | 17.2% | 15.1% | 17.6% | 14.4% |
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.