Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 67.1% | 66.4% | 64.5% | 62.7% | 63% | 64.5% |
| EBITDA margin % | 22.2% | 17.6% | 24.9% | 25.2% | 24.8% | 25.6% | 23.1% | 20.1% |
| EBIT margin % | 16.4% | 12% | 20% | 21.6% | 21% | 20.7% | 16.5% | 13.5% |
| PAT margin % | 12% | 10.6% | 16.8% | 17.3% | 15.9% | 15.8% | 12.8% | 9.6% |
| Working capital | ||||||||
| Receivable days | — | — | 98 | 109 | 94 | 88 | 98 | 115 |
| Inventory days | — | — | 249 | 226 | 210 | 175 | 166 | 240 |
| Payable days | — | — | 117 | 104 | 100 | 68 | 70 | 106 |
| NWC days | — | — | 230 | 231 | 204 | 195 | 194 | 249 |
| Leverage | ||||||||
| Current ratio | — | — | 2.26 | 2.28 | 1.66 | 2.01 | 2.36 | 2.21 |
| Debt to EBITDA | — | — | 0.41 | 0.37 | 0.8 | 0.52 | 0.44 | 0.37 |
| Debt to equity | — | — | 0.11 | 0.1 | 0.23 | 0.16 | 0.11 | 0.07 |
| Interest coverage | 9 | 10 | 105.4 | 25.3 | 13.8 | 13.7 | 13.3 | 13.6 |
| Asset turnover | — | — | 0.72 | 0.72 | 0.7 | 0.8 | 0.8 | 0.68 |
| Return ratios | ||||||||
| Return on assets % | — | — | 12.1% | 12.4% | 11.2% | 12.6% | 10.2% | 6.5% |
| Return on capital employed % | — | — | 24.1% | 27.3% | 26.3% | 26.6% | 19.4% | 14.5% |
| Return on equity % | — | — | 17.3% | 18.7% | 18.3% | 18.5% | 14% | 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.