Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 93.4% | 95.7% | 94.2% | 92.4% | 93.4% | 91.2% | 90.6% | 86.1% |
| EBITDA margin % | 64.4% | 64.5% | 63.8% | 65% | 63.9% | 62.9% | 59.8% | 52.6% |
| EBIT margin % | 61.1% | 59.3% | 55% | 56.6% | 57.9% | 54.9% | 53% | 47.4% |
| PAT margin % | 50.2% | 54.2% | 59.3% | 56.1% | 53.2% | 53.5% | 51.3% | 44.3% |
| Working capital | ||||||||
| Receivable days | 18 | 14 | 37 | 20 | 15 | 7 | 8 | 8 |
| Inventory days | 139 | 168 | 158 | 107 | 119 | 83 | 56 | 36 |
| Payable days | 166 | 287 | 227 | 127 | 147 | 93 | 63 | 43 |
| NWC days | -8 | -105 | -32 | -0 | -12 | -3 | 0 | 1 |
| Leverage | ||||||||
| Current ratio | 0.74 | 1.21 | 1.7 | 8.02 | 4.7 | 3.12 | 2.5 | 2.63 |
| Debt to EBITDA | — | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt to equity | — | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 53.6 | 49.5 | 27.3 | 25.6 | 31.1 | 34 | 40.7 | 21.4 |
| Asset turnover | 0.27 | 0.27 | 0.16 | 0.17 | 0.24 | 0.26 | 0.24 | 0.25 |
| Return ratios | ||||||||
| Return on assets % | 13.4% | 14.5% | 9.5% | 9.6% | 12.8% | 13.7% | 12.4% | 11.2% |
| Return on capital employed % | 21.9% | 21.6% | 14% | 13.1% | 18.8% | 20.5% | 18.7% | 17% |
| Return on equity % | 15.4% | 17.3% | 11.3% | 11.2% | 14.8% | 15.8% | 14.3% | 13.8% |
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.