Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 50.2% | 50.3% | 48.4% | 45.1% | 47.9% | 49% | 49.7% | 47.5% |
| EBITDA margin % | 25.8% | 28.1% | 23.8% | 17.9% | 20% | 20.1% | 24.2% | 14.6% |
| EBIT margin % | 25% | 27.2% | 22.7% | 17% | 19.3% | 19.5% | 23.7% | 13.9% |
| PAT margin % | 19.3% | 26% | 23% | 17.3% | 18.6% | 19.2% | 14.9% | -21.7% |
| Working capital | ||||||||
| Receivable days | 29 | 30 | 60 | 89 | 48 | 55 | 27 | 40 |
| Inventory days | 53 | 42 | 71 | 72 | 93 | 79 | 78 | 88 |
| Payable days | 4 | — | 69 | 68 | 58 | 67 | 55 | 42 |
| NWC days | 78 | — | 62 | 93 | 83 | 68 | 50 | 86 |
| Leverage | ||||||||
| Current ratio | 4.5 | 4.94 | 4.23 | 3.44 | 3.06 | 2.19 | 1.54 | 2.3 |
| Debt to EBITDA | — | — | 0 | 0.35 | 0.12 | 0 | 0 | 0 |
| Debt to equity | — | — | 0 | 0.05 | 0.02 | 0 | 0 | 0 |
| Interest coverage | — | — | — | 147 | 217 | — | — | — |
| Asset turnover | 0.68 | 0.96 | 0.54 | 0.63 | 0.81 | 0.83 | 1.13 | 1.11 |
| Return ratios | ||||||||
| Return on assets % | 13.1% | 24.9% | 12.4% | 10.9% | 15% | 16% | 16.8% | -24.1% |
| Return on capital employed % | 25.5% | 36.5% | 20.5% | 18.1% | 24.7% | 23.9% | 42.3% | 25.3% |
| Return on equity % | 15.1% | 28.7% | 14.7% | 13.4% | 18.1% | 19.8% | 22.8% | -31.9% |
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.