Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 44.9% | 47.3% | 54.9% | 51.4% | 47.6% | 48.5% | 45.5% | 44.7% |
| EBITDA margin % | 14.6% | 14.4% | 17.5% | 18.5% | 14.9% | 14.8% | 16% | 15.2% |
| EBIT margin % | 11.9% | 10.5% | 11.5% | 15.2% | 12% | 11.5% | 13.4% | 12.6% |
| PAT margin % | 8.9% | 8.6% | 10% | 13.3% | 10.4% | 10.3% | 11.7% | 12.1% |
| Working capital | ||||||||
| Receivable days | 116 | — | 142 | 108 | 121 | 111 | 91 | 112 |
| Inventory days | 170 | — | 200 | 143 | 139 | 156 | 112 | 111 |
| Payable days | 1 | — | 80 | 67 | 58 | 58 | 49 | 44 |
| NWC days | 285 | — | 262 | 184 | 202 | 209 | 155 | 179 |
| Leverage | ||||||||
| Current ratio | 1.69 | — | 2.45 | 2.26 | 1.72 | 1.76 | 1.45 | 2.03 |
| Debt to EBITDA | — | — | 1.93 | 1.19 | 1.9 | 1.6 | 1.46 | 1.17 |
| Debt to equity | — | — | 0.35 | 0.31 | 0.44 | 0.29 | 0.34 | 0.22 |
| Interest coverage | 5.9 | 5.1 | 6.6 | 18.3 | 12 | 8.8 | 10.8 | 11.9 |
| Asset turnover | 0.83 | 2.74 | 0.67 | 0.94 | 0.94 | 0.82 | 0.94 | 0.89 |
| Return ratios | ||||||||
| Return on assets % | 7.4% | 23.7% | 6.7% | 12.5% | 9.8% | 8.4% | 11% | 10.8% |
| Return on capital employed % | 21.9% | — | 14.6% | 25.9% | 21.7% | 19.9% | 24.6% | 22.5% |
| Return on equity % | 13.7% | — | 10.4% | 18.9% | 16.1% | 12.5% | 17.1% | 15% |
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.