Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 83.5% | 83.7% | 83.6% | 85.1% | 83.5% | 81.6% | 79.7% | 78.7% |
| EBITDA margin % | 20.1% | 21.2% | 29.4% | 21.5% | 14.5% | 16.6% | 14.5% | 16% |
| EBIT margin % | 14.3% | 15.3% | 22.6% | 14.8% | 8.3% | 9.8% | 6.4% | 7.8% |
| PAT margin % | 9.8% | 11.2% | 14.5% | 14.9% | 4.2% | 4.2% | 4.9% | 7.7% |
| Working capital | ||||||||
| Receivable days | 35 | — | 26 | 21 | 21 | 33 | 31 | 32 |
| Inventory days | 241 | — | 252 | 342 | 240 | 209 | 215 | 196 |
| Payable days | 107 | — | 153 | 198 | 173 | 211 | 198 | 228 |
| NWC days | 169 | — | 125 | 165 | 87 | 31 | 48 | -0 |
| Leverage | ||||||||
| Current ratio | 0.67 | — | 0.6 | 0.61 | 0.61 | 0.57 | 0.52 | 0.54 |
| Debt to EBITDA | 1.36 | — | 2 | 3.06 | 3.8 | 3.17 | 3.78 | 2.68 |
| Debt to equity | 0.32 | — | 0.55 | 0.6 | 0.66 | 0.69 | 0.62 | 0.47 |
| Interest coverage | 15.1 | 12 | 14 | 8.1 | 3 | 2.3 | 1.3 | 1.8 |
| Asset turnover | 0.63 | — | 0.46 | 0.46 | 0.56 | 0.58 | 0.52 | 0.54 |
| Return ratios | ||||||||
| Return on assets % | 6.2% | — | 6.7% | 6.8% | 2.4% | 2.4% | 2.5% | 4.2% |
| Return on capital employed % | 13.5% | — | 13.7% | 9.5% | 6.6% | 8.1% | 4.8% | 6.1% |
| Return on equity % | 11.3% | — | 13.5% | 13.7% | 5.1% | 5.5% | 5.6% | 8.5% |
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.