Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 73.1% | 79.1% | 77% | 73.8% | 71.6% | 70.8% |
| EBITDA margin % | 45.2% | 50.8% | 45.8% | 37.3% | 33.6% | 33.1% |
| EBIT margin % | 39.2% | 43.5% | 35.7% | 23.5% | 16.4% | 6.9% |
| PAT margin % | 30.1% | 33.5% | 28.5% | 18.5% | 13.6% | 6.8% |
| Working capital | ||||||
| Receivable days | 75 | 79 | 85 | 94 | 86 | 85 |
| Inventory days | 277 | 478 | 642 | 528 | 419 | 387 |
| Payable days | 35 | 75 | 54 | 42 | 36 | 48 |
| NWC days | 317 | 482 | 672 | 580 | 469 | 423 |
| Leverage | ||||||
| Current ratio | 2.7 | 7 | 4.01 | 0.96 | 1.26 | 0.92 |
| Debt to EBITDA | 0.32 | 0.14 | 0.85 | 2.48 | 2.19 | 2.49 |
| Debt to equity | 0.14 | 0.04 | 0.19 | 0.41 | 0.35 | 0.41 |
| Interest coverage | 35 | 33 | 25.3 | 8 | 4.3 | 2.7 |
| Asset turnover | 0.77 | 0.55 | 0.39 | 0.29 | 0.32 | 0.3 |
| Return ratios | ||||||
| Return on assets % | 23.3% | 18.5% | 11.1% | 5.4% | 4.3% | 2.1% |
| Return on capital employed % | 37.4% | 36.5% | 19.3% | 11.2% | 9.5% | 6.1% |
| Return on equity % | 28.2% | 20.5% | 14.2% | 8.3% | 6.5% | 3.4% |
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.