Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 41.3% | — | 46.5% | 46.1% | 37.1% | 38.1% | 41.5% | 40.5% |
| EBITDA margin % | 17% | 16.4% | 22.5% | 24.2% | 16.9% | 14.7% | 18.1% | 16.6% |
| EBIT margin % | 13.8% | 13% | 19.2% | 22.3% | 15.2% | 12.7% | 16% | 14.4% |
| PAT margin % | 9.7% | 10.2% | 14.7% | 17.9% | 13.4% | 13.7% | 15.5% | 14.1% |
| Working capital | ||||||||
| Receivable days | 57 | 44 | 32 | 35 | 38 | 47 | 40 | 42 |
| Inventory days | 152 | 74 | 160 | 142 | 151 | 170 | 164 | 134 |
| Payable days | 0 | 1 | 35 | 30 | 24 | 11 | 15 | 10 |
| NWC days | 209 | 118 | 157 | 146 | 164 | 206 | 189 | 166 |
| Leverage | ||||||||
| Current ratio | 1.94 | 2.09 | 2.69 | 2.74 | 2.45 | 4.31 | 4.71 | 4.7 |
| Debt to EBITDA | 0.16 | 0.98 | 0.48 | 0.42 | 0.62 | 0.48 | 0.32 | 0.55 |
| Debt to equity | 1.99 | 0.31 | 0.17 | 0.16 | 0.17 | 0.08 | 0.06 | 0.09 |
| Interest coverage | 12.5 | 11.6 | 30.8 | 74.2 | 31.9 | 31.4 | 42.8 | 24.2 |
| Asset turnover | 1.24 | 1.33 | 1.19 | 1.21 | 1.22 | 1.03 | 0.96 | 0.86 |
| Return ratios | ||||||||
| Return on assets % | 12.1% | 13.5% | 17.4% | 21.8% | 16.4% | 14.2% | 14.8% | 12.1% |
| Return on capital employed % | 28.5% | 25.2% | 33.8% | 42.8% | 29.8% | 22.2% | 23.2% | 19.7% |
| Return on equity % | 701.7% | 19.6% | 22.7% | 27.8% | 21.4% | 16.4% | 16.9% | 14.1% |
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.