Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 64.3% | 65.3% | 66.9% | 66% | 64.1% | 66.4% | 66.4% | 68.7% |
| EBITDA margin % | 19.2% | 22.4% | 29.4% | 23.2% | 23.1% | 26.7% | 27.3% | 27.1% |
| EBIT margin % | 15.5% | 18.5% | 25.8% | 20% | 19.2% | 22.6% | 22.9% | 22.6% |
| PAT margin % | 12.1% | 16.3% | 23.6% | 16.5% | 13.5% | 16.5% | 17.5% | 17.3% |
| Working capital | ||||||||
| Receivable days | 73 | 77 | 72 | 86 | 66 | 69 | 75 | 67 |
| Inventory days | 142 | 149 | 163 | 172 | 136 | 152 | 137 | 193 |
| Payable days | — | 97 | 96 | 96 | 78 | 109 | 112 | 111 |
| NWC days | — | 128 | 139 | 162 | 124 | 112 | 101 | 148 |
| Leverage | ||||||||
| Current ratio | 4.31 | 3.43 | 4.74 | 3.32 | 2.8 | 2.11 | 3.06 | 4.91 |
| Debt to EBITDA | 0.09 | 0.08 | 0.05 | 0.05 | 0.79 | 0.39 | 0 | 0 |
| Debt to equity | 0.02 | 0.02 | 0.01 | 0.01 | 0.22 | 0.12 | 0 | 0 |
| Interest coverage | 66.4 | 119.9 | 83.6 | 96.2 | 16.4 | 19.2 | 97.2 | 203.6 |
| Asset turnover | 0.84 | 0.91 | 0.86 | 0.86 | 0.83 | 0.84 | 0.89 | 0.81 |
| Return ratios | ||||||||
| Return on assets % | 10.2% | 14.8% | 20.3% | 14.2% | 11.2% | 13.9% | 15.6% | 14% |
| Return on capital employed % | 17.8% | 22.9% | 35.2% | 23.3% | 21.8% | 25.7% | 26.5% | 23.8% |
| Return on equity % | 12.3% | 18.6% | 24.7% | 17.2% | 15.9% | 18.8% | 19.3% | 16.7% |
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.