Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 76.1% | 74.9% | 74% | 76.7% | 77.9% | 80% | 79.9% | 81.5% |
| EBITDA margin % | 24.9% | 25.9% | 29.3% | 25.8% | 25.3% | 23.4% | 22% | 24.8% |
| EBIT margin % | 22.2% | 21.3% | 24.9% | 20.9% | 17.3% | 15.2% | 13.4% | 16.3% |
| PAT margin % | 17.5% | 16.8% | 24.2% | 20.5% | 13% | 10.5% | 10.3% | 11.5% |
| Working capital | ||||||||
| Receivable days | 74 | 68 | 58 | 55 | 43 | 43 | 34 | 32 |
| Inventory days | 52 | 38 | 65 | 79 | 64 | 56 | 47 | 47 |
| Payable days | 95 | 155 | 164 | 158 | 133 | 155 | 160 | 166 |
| NWC days | 31 | -48 | -40 | -24 | -26 | -56 | -79 | -88 |
| Leverage | ||||||||
| Current ratio | 2.01 | 2.26 | 3.14 | 1.23 | 1.05 | 1.16 | 1.05 | 1.3 |
| Debt to EBITDA | 0.12 | — | 0 | 1.07 | 0.31 | 0 | 0 | 0 |
| Debt to equity | 0.04 | — | 0 | 0.31 | 0.09 | 0 | 0 | 0 |
| Interest coverage | 287.9 | 26.1 | 43.6 | 14.7 | 7.7 | 8 | 9.9 | 12.4 |
| Asset turnover | 1.1 | 0.97 | 0.87 | 0.64 | 0.74 | 0.75 | 0.72 | 0.73 |
| Return ratios | ||||||||
| Return on assets % | 19.2% | 16.3% | 21% | 13.2% | 9.7% | 7.9% | 7.4% | 8.4% |
| Return on capital employed % | 35.2% | 34.9% | 38.5% | 25.8% | 17.5% | 14.9% | 13.5% | 15.7% |
| Return on equity % | 24.4% | 21.9% | 29.7% | 22.9% | 14.8% | 11.2% | 10% | 11.3% |
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.