Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 31% | 29.6% | 29.8% | 33.6% | ||||
| 39.3% |
| 32.8% |
| 31.8% |
| — |
| EBITDA margin % | 13.1% | 13.7% | 18% | 20.1% | 17.1% | 18.8% | 20.3% | 21.4% |
| EBIT margin % | 11.6% | 12.5% | 17.1% | 19.3% | 15.9% | 18.1% | 19.6% | 20.9% |
| PAT margin % | 9.6% | 11.4% | 15% | 16.9% | 14.9% | 18.4% | 17.7% | 17.3% |
| Working capital | ||||||||
| Receivable days | 81 | 9 | 25 | 25 | 76 | 37 | 81 | 18 |
| Inventory days | 10 | 35 | 3 | 22 | 71 | 12 | 29 | 3 |
| Payable days | 67 | 20 | 40 | 37 | 85 | 43 | 72 | 0 |
| NWC days | 25 | 24 | -12 | 10 | 62 | 7 | 39 | 21 |
| Leverage | ||||||||
| Current ratio | 1.1 | 0.74 | 2.87 | 3.14 | 3.09 | 2.83 | 2.78 | — |
| Debt to EBITDA | 0.16 | 0.04 | 0.01 | 0 | 0 | 0 | 0 | — |
| Debt to equity | 0.02 | 0.01 | 0 | 0 | 0 | 0 | 0 | — |
| Interest coverage | 31.3 | 116.9 | 50.5 | 2,240 | 59.8 | 188.5 | 189.4 | 100.6 |
| Asset turnover | 0.73 | 0.91 | 1 | 1.01 | 0.58 | 0.87 | 0.95 | 1.2 |
| Return ratios | ||||||||
| Return on assets % | 6.9% | 10.5% | 15% | 17.1% | 8.7% | 16.1% | 16.8% | 20.8% |
| Return on capital employed % | 12.9% | 18.3% | 26.9% | 30.3% | 14.8% | 25.1% | 29% | — |
| Return on equity % | 9.4% | 13.6% | 18.6% | 21.4% | 10.4% | 18.9% | 20.7% | 23.4% |
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.