Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 82.9% | 77.8% | 69.8% | 69.8% | 77.5% | 83.9% | 85.5% | 84% |
| EBITDA margin % | 41.1% | 32.3% | 25.3% | 12.1% | 35.9% | 45.9% | 52.4% | 36.3% |
| EBIT margin % | 37.1% | 26.8% | 18.3% | 4.2% | 29.5% | 41.1% | 47% | 31% |
| PAT margin % | 33.6% | 26.5% | 18.7% | 7.9% | 27.1% | 36.6% | 45.2% | 35.7% |
| Working capital | ||||||||
| Receivable days | 90 | — | 88 | 119 | 123 | 110 | 105 | 77 |
| Inventory days | 547 | — | 562 | 476 | 424 | 379 | 395 | 460 |
| Payable days | — | — | 102 | 96 | 126 | 116 | 138 | 232 |
| NWC days | — | — | 548 | 499 | 422 | 373 | 362 | 305 |
| Leverage | ||||||||
| Current ratio | 3.19 | — | 4.18 | 3.33 | 4.38 | 3.85 | 5.42 | 2.76 |
| Debt to EBITDA | 0.47 | — | 0.61 | 1.88 | 0.19 | 0.22 | 0.13 | 0.54 |
| Debt to equity | 0.11 | — | 0.06 | 0.1 | 0.03 | 0.06 | 0.04 | 0.08 |
| Interest coverage | 46.1 | 29.3 | 35.7 | 12.7 | 90.6 | 108.3 | 114.6 | 43.2 |
| Asset turnover | 0.46 | — | 0.35 | 0.36 | 0.44 | 0.54 | 0.5 | 0.35 |
| Return ratios | ||||||||
| Return on assets % | 15.3% | — | 6.5% | 2.8% | 11.8% | 19.9% | 22.4% | 12.5% |
| Return on capital employed % | 25.4% | — | 9.5% | 4% | 17% | 29.9% | 34.4% | 17.3% |
| Return on equity % | 18.7% | — | 7.6% | 3.3% | 13.5% | 23.4% | 25.2% | 15% |
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.