Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 24% | 25.5% | 24.1% | 24.9% | 31% | 30.5% | 25.1% |
| EBITDA margin % | 9.9% | 10% | 12.3% | 12.6% | 11.7% | 16% | 15.1% | 8.4% |
| EBIT margin % | 9.9% | 8.3% | 10.5% | 10.8% | 10% | 14.6% | 13.7% | 6.6% |
| PAT margin % | 8.4% | 6.4% | 7.5% | 7.6% | 10.1% | 13.4% | 10.7% | 5.5% |
| Working capital | ||||||||
| Receivable days | 34 | 41 | 34 | 35 | 39 | 41 | 41 | 45 |
| Inventory days | 21 | 37 | 57 | 46 | 34 | 44 | 45 | 52 |
| Payable days | 6 | 6 | 6 | 3 | 17 | 34 | 29 | 35 |
| NWC days | 49 | 72 | 85 | 78 | 55 | 51 | 56 | 62 |
| Leverage | ||||||||
| Current ratio | 2.56 | 6.82 | 8.21 | 3.06 | 4.15 | 3.51 | 3.57 | 2.11 |
| Debt to EBITDA | 0.14 | 0.13 | 0.02 | 0.07 | 0.12 | 0.37 | 0.33 | 0.29 |
| Debt to equity | 0.04 | 0.04 | 0.01 | 0.02 | 0.03 | 0.11 | 0.09 | 0.04 |
| Interest coverage | 192.4 | 21.8 | 35.6 | 28.7 | 29.8 | 30.2 | 17 | 20.8 |
| Asset turnover | 2.43 | 2.15 | 1.97 | 2.08 | 2.05 | 1.36 | 1.35 | 1.31 |
| Return ratios | ||||||||
| Return on assets % | 20.3% | 13.8% | 14.8% | 15.8% | 20.6% | 18.2% | 14.4% | 7.2% |
| Return on capital employed % | 34.5% | 26.1% | 26.9% | 30% | 35.5% | 34.3% | 28.6% | 13% |
| Return on equity % | 26.2% | 18.7% | 18.7% | 19.9% | 25.6% | 24.5% | 18.7% | 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.