Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 44.3% | 43.9% | 43.6% | 42.6% | ||||
| 39.8% |
| 43.9% |
| 45.5% |
| 49.4% |
| EBITDA margin % | 14.9% | 16.5% | 19% | 17.3% | 14% | 16.4% | 17.4% | 24.1% |
| EBIT margin % | 12.9% | 13.8% | 16.4% | 14.6% | 11.5% | 13% | 14.9% | 21.6% |
| PAT margin % | 10.3% | 8.7% | 16.4% | 15.8% | 15.7% | 15.7% | 16% | 22.4% |
| Working capital | ||||||||
| Receivable days | — | — | 103 | 137 | 170 | 158 | 171 | 170 |
| Inventory days | — | — | 101 | 100 | 121 | 145 | 117 | 102 |
| Payable days | — | — | — | 72 | 103 | 122 | 116 | 97 |
| NWC days | — | — | — | 165 | 188 | 182 | 172 | 174 |
| Leverage | ||||||||
| Current ratio | — | — | 3.17 | 3.54 | 4.22 | 3.48 | 3.13 | 4.22 |
| Debt to EBITDA | — | — | 0.04 | 0.04 | 0 | 0 | 0 | 0 |
| Debt to equity | — | — | 0.01 | 0.01 | 0 | 0 | 0 | 0 |
| Interest coverage | 9.5 | 8.2 | 24.2 | 36.4 | 37.6 | 174.6 | 208.9 | 295.4 |
| Asset turnover | — | — | 0.81 | 0.68 | 0.49 | 0.56 | 0.67 | 0.67 |
| Return ratios | ||||||||
| Return on assets % | — | — | 13.3% | 10.8% | 7.6% | 8.8% | 10.7% | 15.1% |
| Return on capital employed % | — | — | 20.8% | 19.4% | 14.1% | 14.6% | 18.4% | 25.4% |
| Return on equity % | — | — | 16.4% | 13.3% | 9.3% | 10.9% | 13.6% | 18.2% |
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.