Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 50.4% | 51% | 52.1% | 51.7% | 49.4% | 49.8% | 53% | 54.7% |
| EBITDA margin % | 21.1% | 22.1% | 13.9% | 16% | 20.7% | 17.6% | 18.5% | 16.6% |
| EBIT margin % | 19.3% | 19.6% | 9.5% | 13% | 18.5% | 14.1% | 14.8% | 12% |
| PAT margin % | 13% | 15.2% | 7.7% | 13.8% | 15.9% | 11.1% | 46.2% | 17.6% |
| Working capital | ||||||||
| Receivable days | 78 | 52 | 65 | 66 | 61 | 64 | 60 | 64 |
| Inventory days | 298 | 235 | 381 | 326 | 269 | 271 | 281 | 295 |
| Payable days | — | — | 66 | 41 | 0 | 22 | 30 | 34 |
| NWC days | — | — | 380 | 350 | 330 | 313 | 311 | 324 |
| Leverage | ||||||||
| Current ratio | 1.76 | 2.52 | 4.59 | 3.58 | 2.6 | 2.86 | 3.81 | 4.23 |
| Debt to EBITDA | 1.17 | 0.6 | 0 | 0.41 | 0.68 | 0.74 | 0.44 | 0 |
| Debt to equity | 0.43 | 0.2 | 0 | 0.06 | 0.17 | 0.16 | 0.07 | 0 |
| Interest coverage | 23.8 | 23.6 | 13.3 | 42.8 | 37 | 15.2 | 16.7 | 16.4 |
| Asset turnover | 1.03 | 1.1 | 0.66 | 0.79 | 0.94 | 0.97 | 0.76 | 0.68 |
| Return ratios | ||||||||
| Return on assets % | 13.5% | 16.8% | 5.1% | 10.9% | 15% | 10.8% | 35.1% | 12% |
| Return on capital employed % | 35% | 34.5% | 8.8% | 14.3% | 25.5% | 18.5% | 16.5% | 10.8% |
| Return on equity % | 22.4% | 22.7% | 5.9% | 13% | 19.1% | 13.7% | 40.9% | 13.6% |
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.