Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 75% | 78.1% | 77.5% | 75.9% | 76.4% | 75.4% | 74.7% |
| EBITDA margin % | 21.5% | 22.6% | 23.5% | 25.5% | 22.8% | 20.5% | 19.3% | 20% |
| EBIT margin % | 17.1% | 13.7% | 12.2% | 16.7% | 13.4% | 9.8% | 8.3% | 8.9% |
| PAT margin % | 8.9% | 7.1% | 7.2% | 10.1% | 7% | 4.4% | 3.2% | 3.3% |
| Working capital | ||||||||
| Receivable days | — | 2 | 2 | 2 | 2 | 4 | 4 | 4 |
| Inventory days | — | 35 | 67 | 59 | 51 | 76 | 70 | 39 |
| Payable days | — | 167 | 270 | 198 | 163 | 186 | 144 | 132 |
| NWC days | — | -130 | -201 | -137 | -110 | -106 | -70 | -89 |
| Leverage | ||||||||
| Current ratio | — | 1.19 | 0.95 | 0.99 | 0.65 | 0.51 | 0.47 | 0.38 |
| Debt to EBITDA | — | 0 | 0 | 0 | 0 | 0.18 | 0.27 | 0.3 |
| Debt to equity | — | 0 | 0 | 0 | 0 | 0.09 | 0.14 | 0.17 |
| Interest coverage | 4 | 3.7 | 2.9 | 4.4 | 3.8 | 2.5 | 2.1 | 2.3 |
| Asset turnover | — | 1.14 | 0.86 | 0.92 | 0.97 | 0.91 | 0.97 | 0.99 |
| Return ratios | ||||||||
| Return on assets % | — | 8.1% | 6.1% | 9.2% | 6.8% | 4% | 3.1% | 3.3% |
| Return on capital employed % | — | 22.4% | 16.7% | 22.5% | 18.2% | 12.4% | 11.3% | 12.6% |
| Return on equity % | — | 23.3% | 15.6% | 21.2% | 16.6% | 10.6% | 8.5% | 9.5% |
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.