Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 50.3% | 50.3% | 51% | 47.8% | 46.6% | 49.4% |
| EBITDA margin % | 18.7% | 11.1% | 17.7% | 22.7% | 24.9% | 22.8% | 22.4% | 24.3% |
| EBIT margin % | 16.2% | 7.9% | 14.8% | 20.7% | 22.9% | 20.5% | 20.1% | 21.8% |
| PAT margin % | 11.9% | 6.8% | 11.9% | 16% | 17.4% | 18.1% | 16.6% | 17.7% |
| Working capital | ||||||||
| Receivable days | 63 | 1 | 77 | 67 | 69 | 82 | 81 | 92 |
| Inventory days | 94 | 2 | 253 | 260 | 216 | 181 | 184 | 204 |
| Payable days | — | — | 127 | 95 | 61 | 50 | 51 | 42 |
| NWC days | — | — | 202 | 232 | 224 | 213 | 214 | 253 |
| Leverage | ||||||||
| Current ratio | 1.93 | 2.76 | 1.99 | 2.09 | 2.81 | 4.03 | 4.98 | 5.08 |
| Debt to EBITDA | 0.84 | 0.01 | 0.79 | 0.78 | 0.5 | 0.31 | 0.16 | 0.26 |
| Debt to equity | 0.36 | 0.26 | 0.21 | 0.31 | 0.21 | 0.1 | 0.04 | 0.07 |
| Interest coverage | 10.1 | 6.5 | 21 | 26.3 | 15.7 | 25.8 | 34.5 | 33.5 |
| Asset turnover | 1.1 | 1.16 | 0.93 | 1.07 | 1.16 | 1.1 | 0.95 | 0.86 |
| Return ratios | ||||||||
| Return on assets % | 13.1% | 7.9% | 11.1% | 17.2% | 20.2% | 19.9% | 15.7% | 15.2% |
| Return on capital employed % | 33.5% | 15.4% | 24.5% | 40.7% | 42.8% | 36.3% | 27% | 26.2% |
| Return on equity % | 27.1% | 1,288.9% | 17.5% | 27.8% | 28.6% | 24.7% | 18.7% | 18.2% |
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.