Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 37.4% | 37.9% | 36.9% | 36.3% | 37.1% | 38.4% | 38.8% | 38.8% |
| EBITDA margin % | 16.9% | 17.7% | 16.2% | 16.7% | 17.4% | 18% | 17.1% | 16.6% |
| EBIT margin % | 15% | 15.3% | 14.1% | 14.6% | 15.4% | 15.6% | 14.5% | 13.9% |
| PAT margin % | 10.9% | 11.5% | 12.4% | 8.8% | 13.1% | 15.4% | 14.7% | 14.9% |
| Working capital | ||||||||
| Receivable days | 70 | 75 | 90 | 76 | 70 | 71 | 72 | 76 |
| Inventory days | 74 | 79 | 95 | 84 | 77 | 73 | 75 | 73 |
| Payable days | 61 | 82 | 92 | 62 | 59 | 59 | 62 | 51 |
| NWC days | 83 | 72 | 93 | 98 | 88 | 85 | 85 | 98 |
| Leverage | ||||||||
| Current ratio | 1.79 | 1.67 | 2.07 | 1.86 | 2.44 | 2.33 | 1.45 | 1.64 |
| Debt to EBITDA | 0.85 | 0.98 | 0.92 | 0.95 | 0.98 | 0.96 | 1.17 | 1.18 |
| Debt to equity | 0.22 | 0.24 | 0.18 | 0.22 | 0.22 | 0.2 | 0.25 | 0.22 |
| Interest coverage | 12.4 | 14.1 | 16.6 | 22.5 | 16.3 | 14.7 | 13.8 | 13.8 |
| Asset turnover | 1.01 | 0.89 | 0.83 | 0.93 | 0.91 | 0.85 | 0.85 | 0.83 |
| Return ratios | ||||||||
| Return on assets % | 10.9% | 10.3% | 10.3% | 8.2% | 11.9% | 13% | 12.6% | 12.3% |
| Return on capital employed % | 26.8% | 23.6% | 21.2% | 22.2% | 24.2% | 24% | 24.6% | 24.2% |
| Return on equity % | 16.4% | 15.8% | 15.1% | 12% | 17% | 18.1% | 18.3% | 17.1% |
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.