Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 58.6% | 57.1% | 59.4% | 56.7% | 54.4% | 56.3% | 59.1% | 59.3% |
| EBITDA margin % | 18.5% | 14.6% | 19% | 17.4% | 15.6% | 15.9% | 16.2% | 16.2% |
| EBIT margin % | 15.8% | 10.1% | 14.2% | 13.8% | 12.4% | 12.4% | 12.8% | 12.8% |
| PAT margin % | 10.9% | 10.4% | 10.7% | 9.8% | 9.4% | 9.8% | 9.9% | 10.5% |
| Working capital | ||||||||
| Receivable days | 70 | 65 | 85 | 73 | 70 | 78 | 89 | 88 |
| Inventory days | 124 | 139 | 164 | 140 | 127 | 135 | 161 | 169 |
| Payable days | 84 | 83 | 133 | 95 | 69 | 74 | 75 | 84 |
| NWC days | 109 | 121 | 116 | 118 | 128 | 139 | 175 | 173 |
| Leverage | ||||||||
| Current ratio | 1.29 | 1.31 | 1.6 | 1.69 | 1.9 | 2.04 | 1.98 | 2.24 |
| Debt to EBITDA | 1.08 | 1.57 | 0.78 | 0.63 | 0.57 | 0.48 | 0.71 | 0.5 |
| Debt to equity | 0.42 | 0.34 | 0.2 | 0.18 | 0.15 | 0.11 | 0.16 | 0.11 |
| Interest coverage | 16.9 | 9.8 | 31.9 | 44.8 | 26 | 36.5 | 34.9 | 26.5 |
| Asset turnover | 1.17 | 0.93 | 0.88 | 1.11 | 1.21 | 1.12 | 1.05 | 1.03 |
| Return ratios | ||||||||
| Return on assets % | 12.8% | 9.7% | 9.4% | 10.8% | 11.4% | 10.9% | 10.4% | 10.8% |
| Return on capital employed % | 32.1% | 18.6% | 18% | 22% | 21.8% | 20.1% | 19% | 19.4% |
| Return on equity % | 22.9% | 15.6% | 14.1% | 16% | 16% | 14.6% | 14.2% | 14.3% |
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.