Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 92.6% | 93.5% | 93% | 92% | 92.5% | 90.6% | 88.8% | 86.9% |
| EBITDA margin % | 22.6% | 30.9% | 31.4% | 25.5% | 17.5% | 22.3% | 21.3% | 21.7% |
| EBIT margin % | 10.8% | 16.6% | 22.4% | 18.3% | 8.3% | 14% | 5.7% | 9.6% |
| PAT margin % | 8.1% | 13.2% | 18.4% | 16.6% | 7.9% | 12.6% | 6.6% | 8.8% |
| Working capital | ||||||||
| Receivable days | 23 | 25 | 14 | 15 | 20 | 17 | 16 | 19 |
| Inventory days | 671 | 678 | 616 | 693 | 702 | 627 | 375 | 335 |
| Payable days | 190 | 251 | 328 | 258 | 327 | 212 | 219 | 198 |
| NWC days | 504 | 453 | 302 | 450 | 395 | 432 | 172 | 156 |
| Leverage | ||||||||
| Current ratio | 2.01 | 1.79 | 1.69 | 1.69 | 1.23 | 1.87 | 1.94 | 1.94 |
| Debt to EBITDA | 1.05 | 0.64 | 0.54 | 0.55 | 0.86 | 0.34 | 0.21 | 0.38 |
| Debt to equity | 0.29 | 0.18 | 0.14 | 0.12 | 0.14 | 0.07 | 0.04 | 0.07 |
| Interest coverage | 6.1 | 7.8 | 13.2 | 14.5 | 6.8 | 12.5 | 7.7 | 11.8 |
| Asset turnover | 0.77 | 0.62 | 0.6 | 0.61 | 0.65 | 0.71 | 0.65 | 0.64 |
| Return ratios | ||||||||
| Return on assets % | 6.3% | 8.1% | 11% | 10.1% | 5.1% | 9% | 4.3% | 5.7% |
| Return on capital employed % | 11.9% | 15.6% | 20.3% | 17.7% | 9.6% | 16.3% | 7.4% | 10.7% |
| Return on equity % | 9.9% | 12.1% | 15.2% | 13.8% | 7.3% | 12.1% | 5.6% | 7.6% |
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.