Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 64.2% | 61.9% | 58% | 60.8% | 60.4% | 58.3% |
| EBITDA margin % | 13.5% | 14.8% | 17.8% | 21.3% | 21.3% | 21.1% |
| EBIT margin % | 7.1% | 9.8% | 14.2% | 18.4% | 18.5% | 18.6% |
| PAT margin % | 5.6% | 7.9% | 11.4% | 15.1% | 15.7% | 14.6% |
| Working capital | ||||||
| Receivable days | — | — | 55 | 55 | 59 | 59 |
| Inventory days | — | — | 111 | 112 | 122 | 113 |
| Payable days | — | — | 115 | 103 | 107 | 96 |
| NWC days | — | — | 51 | 63 | 74 | 75 |
| Leverage | ||||||
| Current ratio | — | — | 2.5 | 2.32 | 2.46 | 1.81 |
| Debt to EBITDA | — | — | 0.63 | 0.54 | 0.53 | 2.27 |
| Debt to equity | — | — | 0.19 | 0.17 | 0.15 | 0.59 |
| Interest coverage | 10.6 | 20.3 | 21.4 | 24.8 | 27.9 | 15.3 |
| Asset turnover | — | — | 1.12 | 1.03 | 0.94 | 0.67 |
| Return ratios | ||||||
| Return on assets % | — | — | 12.7% | 15.6% | 14.7% | 9.8% |
| Return on capital employed % | — | — | 23.8% | 32.1% | 29.5% | 22.7% |
| Return on equity % | — | — | 19.3% | 22.9% | 20.7% | 17.8% |
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.