Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 49.7% | 53.6% | 54.4% | 44.9% | 42% | 51.5% | 54% | 54.9% |
| EBITDA margin % | 21.2% | 23.4% | 24.9% | 19.2% | 17.5% | 22.8% | 23.5% | 24.5% |
| EBIT margin % | 19.6% | 21.4% | 22.5% | 17.1% | 15.4% | 20.2% | 20.9% | 22% |
| PAT margin % | 16.1% | 17.4% | 17.4% | 15.2% | 11.9% | 16.1% | 17.2% | 17.7% |
| Working capital | ||||||||
| Receivable days | 46 | 46 | 59 | 53 | 45 | 46 | 47 | 50 |
| Inventory days | 87 | 91 | 126 | 114 | 93 | 85 | 98 | 92 |
| Payable days | — | — | — | — | 56 | 70 | 83 | 85 |
| NWC days | — | — | — | — | 82 | 60 | 62 | 58 |
| Leverage | ||||||||
| Current ratio | 3.02 | 2.57 | 1.29 | 1.71 | 1.86 | 2.08 | 2.29 | 2.35 |
| Debt to EBITDA | — | 0.04 | 0.04 | 0.07 | 0 | 0 | 0 | 0 |
| Debt to equity | — | 0.01 | 0.01 | 0.02 | 0 | 0 | 0 | 0 |
| Interest coverage | 193.8 | 112.7 | 86.8 | 62.6 | 59.5 | 82.4 | 81.2 | 79.6 |
| Asset turnover | 1.14 | 1.09 | 0.82 | 0.95 | 1.09 | 0.98 | 0.91 | 0.92 |
| Return ratios | ||||||||
| Return on assets % | 18.3% | 18.9% | 14.2% | 14.5% | 13% | 15.8% | 15.6% | 16.3% |
| Return on capital employed % | 34.1% | 33.5% | 28.4% | 26.2% | 23.3% | 29.1% | 29.1% | 29.7% |
| Return on equity % | 23.4% | 24.7% | 19.4% | 20% | 17.7% | 21.6% | 21.4% | 22.4% |
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.