Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 34.5% | 33.7% | 37.4% | 37.7% | 35.3% | 37.4% | 40.4% | 41.5% |
| EBITDA margin % | 13% | 13.8% | 18.4% | 19.6% | 19% | 16.7% | 20.2% | 20.9% |
| EBIT margin % | 11.7% | 12.1% | 16.6% | 18.2% | 17.5% | 14.5% | 18.1% | 18.9% |
| PAT margin % | 7.5% | 8.5% | 13.1% | 14.2% | 13.9% | 13.1% | 16.2% | 17.1% |
| Working capital | ||||||||
| Receivable days | 110 | 128 | 117 | 100 | 98 | 91 | 90 | 81 |
| Inventory days | 171 | 133 | 166 | 179 | 143 | 125 | 138 | 149 |
| Payable days | 5 | 4 | 130 | 4 | 79 | 88 | 97 | 77 |
| NWC days | 276 | 257 | 153 | 276 | 162 | 128 | 132 | 153 |
| Leverage | ||||||||
| Current ratio | 1.96 | 2.06 | 2.12 | 2.46 | 2.98 | 3.37 | 3.15 | 3.48 |
| Debt to EBITDA | 0.07 | — | — | — | 0 | 0 | 0.03 | 0.03 |
| Debt to equity | 0.02 | — | — | — | 0 | 0 | 0.01 | 0.01 |
| Interest coverage | 73.6 | 55.1 | 82.5 | 95.9 | 122.6 | 106.5 | 139.4 | 114.6 |
| Asset turnover | 1.2 | 1.16 | 0.99 | 1.02 | 1.04 | 0.86 | 0.79 | 0.72 |
| Return ratios | ||||||||
| Return on assets % | 9% | 9.8% | 13% | 14.4% | 14.5% | 11.2% | 12.8% | 12.2% |
| Return on capital employed % | 25.2% | 26.2% | 32.4% | 33.2% | 29.9% | 20.6% | 24.7% | 23.1% |
| Return on equity % | 20.6% | 17% | 22.6% | 22.5% | 20.5% | 15.1% | 17.3% | 16% |
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.