Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 70.9% | 74.2% | 75.8% | 71.2% | 73.1% | 72% | 73.8% | 75.7% |
| EBITDA margin % | 29.3% | 30.7% | 30.7% | 30.5% | 29.3% | 27.4% | 27.2% | 23.8% |
| EBIT margin % | 20.3% | 19.8% | 18.1% | 18.6% | 18% | 15.9% | 16.3% | 12.5% |
| PAT margin % | 18.1% | 20.5% | 18.5% | 15.1% | 14.8% | 14.6% | 13.9% | 8.9% |
| Working capital | ||||||||
| Receivable days | — | 72 | 79 | 71 | 55 | 49 | 51 | 46 |
| Inventory days | — | 18 | 41 | 87 | 141 | 95 | 62 | 60 |
| Payable days | — | 157 | 166 | 115 | 110 | 104 | 143 | 136 |
| NWC days | — | -67 | -45 | 44 | 86 | 41 | -30 | -30 |
| Leverage | ||||||||
| Current ratio | — | 1.1 | 1.59 | 1.79 | 2.04 | 1.69 | 1.53 | 1.32 |
| Debt to EBITDA | — | 0.5 | 1.15 | 1 | 0.62 | 0.16 | 0.11 | 0 |
| Debt to equity | — | 0.14 | 0.27 | 0.24 | 0.16 | 0.03 | 0.02 | 0 |
| Interest coverage | 13.8 | 13.8 | 16.6 | 22.3 | 14.3 | 20.3 | 19.9 | 19 |
| Asset turnover | — | 0.48 | 0.45 | 0.47 | 0.55 | 0.55 | 0.53 | 0.52 |
| Return ratios | ||||||||
| Return on assets % | — | 9.9% | 8.3% | 7.1% | 8.1% | 8% | 7.3% | 4.6% |
| Return on capital employed % | — | 18.3% | 14.4% | 13.3% | 14.3% | 12.7% | 12.7% | 9.7% |
| Return on equity % | — | 18.9% | 14.3% | 12% | 13.1% | 11.1% | 10.1% | 6.5% |
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.