Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 64.3% | 68.1% | 71.4% | 70% | 68.9% | 67.3% | 63.8% |
| EBITDA margin % | 14.3% | 12.7% | 10.9% | 14.7% | 11.7% | 10.6% | 7.2% | 6% |
| EBIT margin % | 11.9% | 11% | 8.8% | 12.8% | 9.6% | 8% | 4.3% | 3.1% |
| PAT margin % | 8.6% | 8.6% | 6.5% | 9.3% | 6.9% | 5% | 2.3% | 1.8% |
| Working capital | ||||||||
| Receivable days | 50 | 55 | 65 | 65 | 82 | 50 | 78 | 103 |
| Inventory days | 31 | 66 | 82 | 59 | 96 | 151 | 146 | 116 |
| Payable days | 0 | 148 | 237 | 188 | 232 | 198 | 186 | 135 |
| NWC days | 80 | -27 | -89 | -64 | -54 | 2 | 38 | 83 |
| Leverage | ||||||||
| Current ratio | 1.49 | 1.39 | 1.54 | 1.45 | 1.39 | 1.43 | 1.59 | 1.36 |
| Debt to EBITDA | 0.17 | 0.38 | 0.6 | 0.39 | 0.64 | 1.74 | 1.52 | 1.77 |
| Debt to equity | 0.07 | 0.16 | 0.15 | 0.15 | 0.18 | 0.5 | 0.22 | 0.25 |
| Interest coverage | 16.1 | 12.9 | 8.6 | 9.3 | 6.6 | 4.3 | 2.8 | 2.5 |
| Asset turnover | 1.43 | 1.56 | 1.25 | 1.38 | 1.1 | 1.22 | 1.06 | 1.01 |
| Return ratios | ||||||||
| Return on assets % | 12.4% | 13.5% | 8.2% | 12.8% | 7.6% | 6.1% | 2.4% | 1.8% |
| Return on capital employed % | 43.7% | 45.4% | 25.1% | 39.5% | 27.5% | 24.6% | 11.2% | 9% |
| Return on equity % | 24.3% | 28.3% | 15% | 23.7% | 16.6% | 13.5% | 4.7% | 4.1% |
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.