Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 61.7% | 59.8% | 47.6% | 52.6% | 52.2% | 50.4% | 50.4% | 48.6% |
| EBITDA margin % | 22.4% | 18% | 6.2% | 16.5% | 19.5% | 20.6% | 19% | 19.2% |
| EBIT margin % | 20.8% | 16.4% | 4% | 15.3% | 18.4% | 19.4% | 17.4% | 17.3% |
| PAT margin % | 16% | 13.8% | 6.4% | 13.4% | 15.3% | 18% | 16.8% | 13.9% |
| Working capital | ||||||||
| Receivable days | 129 | 118 | 158 | 103 | 80 | 86 | 102 | 90 |
| Inventory days | 158 | 154 | 116 | 143 | 162 | 70 | 151 | 144 |
| Payable days | — | — | 84 | 68 | 47 | 37 | 72 | 51 |
| NWC days | — | — | 190 | 178 | 195 | 119 | 180 | 183 |
| Leverage | ||||||||
| Current ratio | 1.98 | 2.69 | 3.18 | 2.35 | 2.56 | 4.79 | 2.36 | 3.37 |
| Debt to EBITDA | 0.83 | 0.93 | 2.49 | 0.77 | 0.33 | 0.01 | 0.63 | 0.25 |
| Debt to equity | 0.22 | 0.2 | 0.11 | 0.16 | 0.09 | 0 | 0.12 | 0.05 |
| Interest coverage | 18.3 | 11.9 | 4.3 | 24.3 | 25.6 | 46.8 | 20.8 | 15.2 |
| Asset turnover | 0.78 | 0.83 | 0.52 | 0.82 | 0.95 | 1.03 | 0.7 | 0.78 |
| Return ratios | ||||||||
| Return on assets % | 12.4% | 11.5% | 3.3% | 11% | 14.6% | 18.4% | 11.8% | 10.8% |
| Return on capital employed % | 30% | 23.4% | 6.5% | 23.8% | 31.3% | 32.5% | 24.6% | 19.8% |
| Return on equity % | 18.7% | 16.4% | 4.5% | 17.1% | 21.8% | 22.8% | 17.2% | 14.3% |
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.