Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 70.1% | 69.5% | 74.6% | 70.9% | ||||
Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 70.1% | 69.5% | 74.6% | 70.9% | ||||
| 53.2% |
| 58.8% |
| 59.1% |
| 62.3% |
| EBITDA margin % | 29.1% | 24.6% | 33.6% | 39.6% | 21.5% | 21.2% | 21% | 23.2% |
| EBIT margin % | 23.7% | 18.1% | 27.4% | 35.4% | 17.3% | 16.9% | 16.3% | 18.2% |
| PAT margin % | 14.9% | 11.2% | 21% | 25.6% | 12% | 3.4% | 10.5% | 11.5% |
| Working capital | ||||||||
| Receivable days | 7 | 6 | 16 | 9 | 9 | 4 | 4 | 4 |
| Inventory days | 195 | 213 | 285 | 194 | 126 | 154 | 154 | 160 |
| Payable days | 190 | 210 | 297 | 205 | 109 | 139 | 139 | 174 |
| NWC days | 12 | 8 | 4 | -2 | 26 | 20 | 20 | -10 |
| Leverage | ||||||||
| Current ratio | 0.67 | 0.65 | 0.96 | 0.58 | 0.73 | 0.73 | 0.62 | 0.52 |
| Debt to EBITDA | 1.3 | 2.64 | 1.49 | 0.63 | 1.53 | 1.49 | 2.27 | 2.13 |
| Debt to equity | 0.38 | 0.51 | 0.34 | 0.26 | 0.31 | 0.32 | 0.5 | 0.51 |
| Interest coverage | 6.8 | 3.7 | 5.4 | 16.9 | 6.7 | 6.5 | 5.6 | 5.4 |
| Asset turnover | 0.51 | 0.4 | 0.36 | 0.58 | 0.55 | 0.57 | 0.52 | 0.51 |
| Return ratios | ||||||||
| Return on assets % | 7.7% | 4.5% | 7.5% | 14.9% | 6.6% | 2% | 5.5% | 5.9% |
| Return on capital employed % | 18.1% | 9.8% | 13.6% | 29.6% | 14.4% | 14.1% | 12.1% | 13.5% |
| Return on equity % | 15% | 8.8% | 14.3% | 26.3% | 11.5% | 3.5% | 11% | 11.9% |
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.