Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 72% | ||||
| 71.7% |
| 72.3% |
| — |
| — |
| EBITDA margin % | 21.7% | 21% | 23.5% | 28% | 28.4% | 26.3% | 28% | 28.1% |
| EBIT margin % | 15.8% | 15.4% | 16.2% | 18.1% | 19% | 17.6% | 20.5% | 21% |
| PAT margin % | 9.9% | 9.5% | 13.3% | 11.3% | 11.5% | 11.4% | 14.7% | 15.2% |
| Working capital | ||||||||
| Receivable days | — | — | 4 | 7 | 8 | 9 | — | — |
| Inventory days | — | — | 8 | 19 | 18 | 18 | — | — |
| Payable days | — | — | 17 | 29 | 20 | 35 | — | — |
| NWC days | — | — | -5 | -2 | 5 | -9 | — | — |
| Leverage | ||||||||
| Current ratio | — | — | 1.34 | 1.36 | 1.46 | 1.62 | — | — |
| Debt to EBITDA | — | — | 3.04 | 3.02 | 1.99 | 1.76 | — | — |
| Debt to equity | — | — | 1.18 | 1.14 | 0.84 | 0.66 | — | — |
| Interest coverage | 8 | 8.6 | 8.7 | 4.4 | 4.3 | 4.9 | 8.2 | 9.5 |
| Asset turnover | — | — | 0.64 | 0.54 | 0.67 | 0.71 | — | — |
| Return ratios | ||||||||
| Return on assets % | — | — | 8.5% | 6.1% | 7.8% | 8% | — | — |
| Return on capital employed % | — | — | 12.6% | 12.8% | 15.8% | 16% | — | — |
| Return on equity % | — | — | 21.9% | 15.2% | 17.1% | 16.1% | — | — |
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.