Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 37% | 41.5% | 38.8% | 40.4% | 39.2% | 38.7% | 46.3% |
| EBITDA margin % | 15.5% | 12.3% | 15.7% | 15.2% | 17.4% | 15.7% | 14.7% | 11.7% |
| EBIT margin % | 14% | 10.3% | 13.6% | 13.6% | 15.9% | 14.1% | 13% | 8.7% |
| PAT margin % | 11.1% | 10.2% | 11.2% | 10.8% | 12.2% | 12.1% | 11.5% | 12.5% |
| Working capital | ||||||||
| Receivable days | 63 | 56 | 80 | 68 | 58 | 60 | 63 | 123 |
| Inventory days | 66 | 92 | 109 | 110 | 98 | 90 | 106 | 103 |
| Payable days | — | — | 135 | 83 | 86 | 94 | 80 | 175 |
| NWC days | — | — | 54 | 96 | 69 | 56 | 88 | 51 |
| Leverage | ||||||||
| Current ratio | 3.02 | 3.56 | 2.35 | 2.87 | 3.08 | 2.95 | 2.82 | 2.06 |
| Debt to EBITDA | 0.19 | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt to equity | 0.05 | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 69.4 | 41.8 | 187.1 | 256.3 | 486.4 | 609.1 | 1,091.1 | 1,542.8 |
| Asset turnover | 1.32 | 1.15 | 1.16 | 1.4 | 1.35 | 1.25 | 1.38 | 1.02 |
| Return ratios | ||||||||
| Return on assets % | 14.6% | 11.7% | 12.9% | 15.1% | 16.5% | 15.1% | 15.9% | 12.8% |
| Return on capital employed % | 29.6% | 21.5% | 22.4% | 30.1% | 34% | 28.9% | 28.4% | 13% |
| Return on equity % | 19.8% | 15.2% | 19% | 21% | 22.4% | 20.6% | 21.8% | 20% |
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.