Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 41.9% | 45.2% | 42% | 37.5% | 40.3% | 45.7% | 43.7% | 36.7% |
| EBITDA margin % | 16.4% | 19.1% | 18.2% | 15.8% | 17.5% | 20.1% | 19.1% | 15.3% |
| EBIT margin % | 15% | 17.1% | 16.5% | 14.5% | 16% | 18.6% | 17.5% | 13.8% |
| PAT margin % | 19% | 17.2% | 17.5% | 15.5% | 15.8% | 15.4% | 20.3% | 20.6% |
| Working capital | ||||||||
| Receivable days | 18 | 29 | 18 | 27 | 41 | 45 | 45 | 31 |
| Inventory days | 138 | 133 | 87 | 85 | 73 | 90 | 69 | 64 |
| Payable days | — | 80 | 84 | 78 | 82 | 88 | 66 | 56 |
| NWC days | — | 82 | 21 | 34 | 32 | 48 | 48 | 38 |
| Leverage | ||||||||
| Current ratio | 2.39 | 2.34 | 2.1 | 2.06 | 2.17 | 2.01 | 3.12 | 2.61 |
| Debt to EBITDA | 0.12 | 0.1 | 0.12 | 0.08 | 0.05 | 0.09 | 0.17 | 0.11 |
| Debt to equity | 0.04 | 0.04 | 0.05 | 0.03 | 0.02 | 0.03 | 0.05 | 0.03 |
| Interest coverage | 99.9 | 39.7 | 63.3 | 48.1 | 42.4 | 44.8 | 83.3 | 84.7 |
| Asset turnover | 1.45 | 1.42 | 1.41 | 1.67 | 1.47 | 1.41 | 1.26 | 1.23 |
| Return ratios | ||||||||
| Return on assets % | 27.5% | 24.3% | 24.7% | 25.9% | 23.2% | 21.7% | 25.5% | 25.5% |
| Return on capital employed % | 38.6% | 42.6% | 45.3% | 45.9% | 44.3% | 38.5% | 44.7% | 42.3% |
| Return on equity % | 37.4% | 34.8% | 36.4% | 38.1% | 32.1% | 30% | 32.4% | 33.4% |
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.