Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 93.8% | 84.2% | 83.4% | 83.4% | 83.6% | 84.3% | 82.9% | 83% |
| EBITDA margin % | 16.3% | 21.6% | 23.9% | 19.3% | 14.9% | 18.4% | 17.8% | 17.9% |
| EBIT margin % | 12.4% | 17.7% | 20.1% | 15.6% | 10.9% | 13.9% | 13.2% | 13.6% |
| PAT margin % | 6.5% | 7.3% | 9.5% | 8.2% | 6.3% | 7.6% | 7.8% | 8% |
| Working capital | ||||||||
| Receivable days | — | — | 18 | 19 | 15 | 15 | 22 | 17 |
| Inventory days | — | — | 238 | 320 | 192 | 227 | 192 | 223 |
| Payable days | — | — | 191 | 192 | 149 | 172 | 179 | 171 |
| NWC days | — | — | 66 | 147 | 58 | 70 | 34 | 70 |
| Leverage | ||||||||
| Current ratio | — | — | 1.72 | 1.37 | 1.24 | 1.34 | 1.25 | 0.89 |
| Debt to EBITDA | — | — | 1.84 | 2.18 | 2.4 | 2.58 | 2.96 | 2.61 |
| Debt to equity | — | — | 0.75 | 0.76 | 0.68 | 0.97 | 0.97 | 0.87 |
| Interest coverage | 3.1 | 4.7 | 6.2 | 5.4 | 4.1 | 3.8 | 3.6 | 4.7 |
| Asset turnover | — | — | 0.69 | 0.74 | 0.83 | 0.76 | 0.68 | 0.72 |
| Return ratios | ||||||||
| Return on assets % | — | — | 6.6% | 6.1% | 5.2% | 5.8% | 5.3% | 5.8% |
| Return on capital employed % | — | — | 18.6% | 17.4% | 12.7% | 16.6% | 13.7% | 14.8% |
| Return on equity % | — | — | 16.1% | 14.8% | 12% | 15.5% | 14.3% | 14.8% |
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.