Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 57.5% | 57.5% | 57.3% | 58.4% |
| EBITDA margin % | 32.5% | 28.3% | ||
| 29.1% |
| 26% |
| EBIT margin % | 21.7% | 17.3% | 18% | 13.5% |
| PAT margin % | 15.6% | 10.4% | 11.1% | 8% |
| Working capital | ||||
| Receivable days | 101 | 137 | 141 | 146 |
| Inventory days | 195 | 189 | 141 | 163 |
| Payable days | 73 | 45 | 35 | 40 |
| NWC days | 223 | 281 | 246 | 269 |
| Leverage | ||||
| Current ratio | 3 | 2.66 | 3.61 | 3.27 |
| Debt to EBITDA | 0.06 | 0.23 | 0.01 | 0 |
| Debt to equity | 0.04 | 0.11 | 0 | 0 |
| Interest coverage | 6.8 | 4.3 | 4.6 | 3.6 |
| Asset turnover | 0.87 | 0.8 | 0.8 | 0.74 |
| Return ratios | ||||
| Return on assets % | 13.5% | 8.3% | 8.9% | 5.9% |
| Return on capital employed % | 25.4% | 19.6% | 19.1% | 13.7% |
| Return on equity % | 27.5% | 17.3% | 16.7% | 10.8% |
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.