Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 85.8% | 86.8% | 87.8% | 87.5% | 86% | 86.7% | 85.1% | 80.8% |
| EBIT margin % | 55.9% | 56.2% | 56.7% | 56% | 56.1% | 57.1% | 55.3% | 50.6% |
| PAT margin % | 29.1% | 29.9% | 31.7% | 42.8% | 35.4% | 36.5% | 37.1% | 38.9% |
| Working capital | ||||||||
| Receivable days | 50 | 49 | 82 | 87 | 104 | 93 | 64 | 97 |
| Inventory days | 93 | 107 | 108 | 99 | 80 | 84 | 82 | 67 |
| Payable days | 3 | — | 2 | — | 20 | 23 | 34 | 33 |
| NWC days | 140 | — | 188 | — | 164 | 155 | 112 | 131 |
| Leverage | ||||||||
| Current ratio | 0.56 | 0.63 | 0.84 | 0.62 | 0.89 | 0.79 | 0.74 | 0.7 |
| Debt to EBITDA | 4.62 | 4.41 | 4.33 | 3.86 | 3.4 | 3.36 | 3.71 | 4.48 |
| Debt to equity | 2.29 | 2.15 | 2.06 | 1.77 | 1.53 | 1.42 | 1.42 | 1.48 |
| Interest coverage | 2.3 | 2.3 | 2.8 | 3 | 2.8 | 3.1 | 2.9 | 2.7 |
| Asset turnover | 0.14 | 0.14 | 0.15 | 0.16 | 0.18 | 0.17 | 0.16 | 0.15 |
| Return ratios | ||||||||
| Return on assets % | 4% | 4.2% | 4.7% | 6.9% | 6.2% | 6.3% | 6% | 5.7% |
| Return on capital employed % | 10.5% | 10.2% | 10.7% | 11.3% | 12.3% | 12.6% | 12.6% | 11.6% |
| Return on equity % | 16.8% | 16.8% | 17.2% | 22.4% | 18.5% | 17.8% | 16.6% | 15.9% |
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.