Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 55.1% | 55.2% | 54.9% | 55.1% | 54% | 54.8% | 56.9% | 58.2% |
| EBITDA margin % | 12.8% | 12.9% | 17.1% | 18.8% | 17.8% | 17.3% | 17% | 16.9% |
| EBIT margin % | 8.7% | 7.7% | 12% | 15% | 14.3% | 14.1% | 13.4% | 13% |
| PAT margin % | 6.1% | 7.1% | 9.7% | 11.9% | 11.9% | 12.1% | 12.2% | 11.1% |
| Working capital | ||||||||
| Receivable days | — | 40 | 55 | 50 | 44 | 46 | 45 | 47 |
| Inventory days | — | 152 | 152 | 167 | 144 | 132 | 139 | 143 |
| Payable days | — | 125 | 171 | 101 | 72 | 86 | 89 | 94 |
| NWC days | — | 66 | 36 | 117 | 116 | 92 | 94 | 96 |
| Leverage | ||||||||
| Current ratio | — | 1.64 | 1.74 | 2.08 | 2.39 | 2.12 | 2.17 | 1.79 |
| Debt to EBITDA | — | 0.44 | 0.19 | 0.21 | 0.22 | 0.22 | 0.24 | 0.27 |
| Debt to equity | — | 0.12 | 0.06 | 0.07 | 0.06 | 0.05 | 0.05 | 0.06 |
| Interest coverage | 13.5 | 8.2 | 20.7 | 39.4 | 53.3 | 50.5 | 46.3 | 44.2 |
| Asset turnover | — | 1.36 | 1.17 | 1.21 | 1.15 | 1.03 | 0.97 | 0.99 |
| Return ratios | ||||||||
| Return on assets % | — | 9.6% | 11.4% | 14.4% | 13.6% | 12.4% | 11.8% | 10.9% |
| Return on capital employed % | — | 14.6% | 22.4% | 29.8% | 25.1% | 23.7% | 20.9% | 20.5% |
| Return on equity % | — | 15% | 17.1% | 21.4% | 18.4% | 16.7% | 15.5% | 14.6% |
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.