Standalone figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | — | 94.7% | 91.3% | 88.1% | 91.7% | ||
| 92.6% |
| 93.6% |
| EBITDA margin % | 28.6% | 41.9% | 53% | 42.6% | 44.3% | 50.9% | 39.7% |
| EBIT margin % | 23.3% | 34.8% | 45.7% | 31.9% | 34.5% | 41.9% | 21.4% |
| PAT margin % | 17.2% | 23.4% | 31% | 18.8% | 22% | 29.8% | 19.2% |
| Working capital | |||||||
| Receivable days | — | 16 | 20 | 65 | 20 | 73 | 103 |
| Inventory days | — | 341 | 252 | 143 | 236 | 208 | 309 |
| Payable days | — | 130 | 77 | 117 | 75 | 84 | 87 |
| NWC days | — | 227 | 195 | 90 | 181 | 196 | 325 |
| Leverage | |||||||
| Current ratio | — | 1.54 | 2.13 | 3.84 | 4.23 | 5.96 | 11.1 |
| Debt to EBITDA | — | 1.18 | 1.47 | 1.9 | 1.13 | 0.14 | 0 |
| Debt to equity | — | 0.25 | 0.32 | 0.28 | 0.18 | 0.02 | 0 |
| Interest coverage | 4.3 | 5.8 | 8.2 | 4.2 | 4.5 | 10.6 | 14.7 |
| Asset turnover | — | 0.36 | 0.28 | 0.25 | 0.27 | 0.3 | 0.25 |
| Return ratios | |||||||
| Return on assets % | — | 8.4% | 8.8% | 4.6% | 6% | 9% | 4.7% |
| Return on capital employed % | — | 13.9% | 15.6% | 9.3% | 10.9% | 14.2% | 6.7% |
| Return on equity % | — | 11.7% | 12.9% | 6.6% | 7.9% | 10.3% | 5.1% |
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.