Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 77.4% | 51.2% | 50.6% | 42.6% | 52.3% | 46.5% | 36.1% | 33.3% |
| EBITDA margin % | 22.3% | 22.5% | 13.8% | 12.2% | 25.6% | 18.9% | 6.4% | 5.6% |
| EBIT margin % | 19.8% | 19.6% | 8.9% | 9.2% | 23.5% | 16.4% | 3.8% | 3% |
| PAT margin % | 14.3% | 14.8% | 12.8% | 7.6% | 18.6% | 14.4% | 6% | 4% |
| Working capital | ||||||||
| Receivable days | 22 | 24 | 38 | 27 | 17 | 24 | 31 | 41 |
| Inventory days | 164 | 85 | 215 | 58 | 89 | 109 | 115 | 115 |
| Payable days | 315 | — | 162 | 92 | 86 | 98 | 80 | 76 |
| NWC days | -129 | — | 91 | -6 | 20 | 35 | 66 | 79 |
| Leverage | ||||||||
| Current ratio | 1.75 | 1.75 | 2.59 | 2.41 | 3.03 | 3.34 | 3.41 | 2.4 |
| Debt to EBITDA | 0.17 | 0.19 | 0.07 | 0.02 | 0 | 0.06 | 0.74 | 0 |
| Debt to equity | 0.06 | 0.06 | 0.01 | 0 | 0 | 0.01 | 0.04 | 0 |
| Interest coverage | 20.6 | 37.1 | 30.7 | 49.3 | 162.8 | 162.4 | 16.2 | 11.5 |
| Asset turnover | 0.94 | 0.85 | 0.53 | 0.84 | 1.03 | 0.78 | 0.72 | 0.71 |
| Return ratios | ||||||||
| Return on assets % | 13.5% | 12.5% | 6.8% | 6.4% | 19.1% | 11.2% | 4.3% | 2.8% |
| Return on capital employed % | 28.4% | 23.8% | 7.7% | 10.8% | 33.5% | 18.6% | 6.7% | 4.8% |
| Return on equity % | 21.9% | 20.4% | 9.1% | 8.6% | 24.5% | 14.1% | 5.5% | 3.5% |
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.