Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 34.4% | ||||
| 40.6% |
| 34.6% |
| 38.2% |
| 45.9% |
| EBITDA margin % | 2.1% | -1.1% | 5.5% | 19.6% | 23.8% | 18.7% | 21.1% | 24.9% |
| EBIT margin % | 0.6% | -2.2% | 5% | 19.2% | 23.4% | 18.4% | 20.5% | 24.2% |
| PAT margin % | 1.3% | 1.5% | 3.8% | 14.8% | 18.1% | 15.8% | 16.6% | 19.4% |
| Working capital | ||||||||
| Receivable days | — | — | — | 70 | 68 | 87 | 57 | 71 |
| Inventory days | — | — | — | 71 | 109 | 51 | 38 | 149 |
| Payable days | — | — | — | 8 | 22 | 14 | 1 | 7 |
| NWC days | — | — | — | 133 | 155 | 124 | 94 | 213 |
| Leverage | ||||||||
| Current ratio | — | — | — | 7.13 | 7.17 | 6.32 | 36.63 | 30.24 |
| Debt to EBITDA | — | — | — | 0.25 | 0.22 | 0.12 | 0.04 | 0.03 |
| Debt to equity | — | — | — | 0.07 | 0.08 | 0.04 | 0.01 | 0.01 |
| Interest coverage | 1.6 | 2.5 | 15.7 | 44.5 | 53.5 | 106.7 | 83.6 | 247.1 |
| Asset turnover | — | — | — | 1.3 | 1.29 | 1.35 | 1.11 | 0.92 |
| Return ratios | ||||||||
| Return on assets % | — | — | — | 19.2% | 23.3% | 21.2% | 18.3% | 17.9% |
| Return on capital employed % | — | — | — | 30.4% | 42.1% | 38.6% | 28.3% | 27.6% |
| Return on equity % | — | — | — | 22.1% | 26.6% | 24.7% | 18.8% | 18.5% |
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.