Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 42.1% | 45.8% | 45.4% | 40.3% | ||||
| 39.8% |
| 43.9% |
| 43.3% |
| 41.4% |
| EBITDA margin % | 11.7% | 14.2% | 14.1% | 13.7% | 13.8% | 16% | 15.7% | 14.1% |
| EBIT margin % | 9.5% | 11.3% | 11% | 11.3% | 11.6% | 13.9% | 13.5% | 12% |
| PAT margin % | 7.2% | 8.9% | 8.6% | 9.2% | 8.8% | 10.8% | 10.5% | 53.3% |
| Working capital | ||||||||
| Receivable days | 56 | 54 | 62 | 57 | 53 | 53 | 52 | 61 |
| Inventory days | 85 | 107 | 135 | 129 | 95 | 100 | 95 | 99 |
| Payable days | 1 | 1 | 220 | 164 | 142 | 164 | 151 | 130 |
| NWC days | 139 | 161 | -23 | 22 | 6 | -10 | -3 | 30 |
| Leverage | ||||||||
| Current ratio | 1.59 | 1.63 | 1.58 | 1.49 | 1.48 | 1.35 | 1.22 | 1.52 |
| Debt to EBITDA | 0.01 | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt to equity | 0 | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 71.8 | 36.2 | 28.1 | 26.2 | 33.4 | 46.8 | 59.4 | 38.4 |
| Asset turnover | 1.39 | 1.14 | 0.96 | 1.22 | 1.39 | 1.36 | 1.41 | 0.97 |
| Return ratios | ||||||||
| Return on assets % | 10.1% | 10.2% | 8.2% | 11.2% | 12.2% | 14.7% | 14.8% | 51.4% |
| Return on capital employed % | 24.8% | 26.1% | 20.6% | 26.8% | 32.6% | 39.6% | 38.5% | 22.6% |
| Return on equity % | 18.6% | 19.2% | 16.1% | 23% | 25.5% | 32.1% | 32.3% | 80.1% |
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.