Standalone figures
| Ratio | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|
| Margins | |||
| Gross margin % | 72.7% | 74.3% | 73.8% |
| EBITDA margin % | 39.4% | 37.4% | 35.2% |
| EBIT margin % | 39.1% | 36.7% | 33.8% |
| PAT margin % | 29.7% | 25% | 27.3% |
| Working capital | |||
| Receivable days | 21 | 7 | 12 |
| Inventory days | 232 | 80 | 98 |
| Payable days | 144 | 138 | 126 |
| NWC days | 109 | -51 | -16 |
| Leverage | |||
| Current ratio | 2.58 | 3 | 3.85 |
| Debt to EBITDA | 0 | 0 | 0 |
| Debt to equity | 0 | 0 | 0 |
| Interest coverage | — | 71.6 | 157.9 |
| Asset turnover | 1.61 | 1.68 | 1.61 |
| Return ratios | |||
| Return on assets % | 47.7% | 42% | 43.9% |
| Return on capital employed % | 102.6% | 108.1% | 87.8% |
| Return on equity % | 79.4% | 66.3% | 62.5% |
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.