Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 96.4% | 97.7% | — | 97.8% | 90% | 96.5% | 95% | 92.7% |
| EBITDA margin % | 23.4% | 25.5% | 27.4% | 24.3% | 22.4% | 19.4% | 19.9% | 20.6% |
| EBIT margin % | 14.5% | 16.3% | 17.4% | 15.3% | 16.8% | 13.7% | 15% | 15.4% |
| PAT margin % | 6.9% | 9.2% | 11.3% | 3% | 11.2% | 9% | 13% | 11.8% |
| Working capital | ||||||||
| Receivable days | — | — | 40 | 36 | 29 | 29 | 28 | 29 |
| Inventory days | — | — | 16 | 522 | 125 | 341 | 201 | 102 |
| Payable days | — | — | 41 | 1,321 | 210 | 576 | 453 | 316 |
| NWC days | — | — | 15 | -763 | -55 | -207 | -224 | -185 |
| Leverage | ||||||||
| Current ratio | — | — | 0.94 | 0.98 | 1.06 | 1.14 | 1.36 | 1.11 |
| Debt to EBITDA | — | — | 2.22 | 2.36 | 1.99 | 2.51 | 1.46 | 1.84 |
| Debt to equity | — | — | 0.7 | 0.79 | 0.76 | 0.81 | 0.36 | 0.43 |
| Interest coverage | 2.4 | 2.7 | 3.2 | 4.1 | 5.4 | 4.1 | 4.5 | 5.8 |
| Asset turnover | — | — | 0.52 | 0.58 | 0.72 | 0.68 | 0.69 | 0.61 |
| Return ratios | ||||||||
| Return on assets % | — | — | 5.8% | 1.7% | 8.1% | 6.2% | 9% | 7.2% |
| Return on capital employed % | — | — | 12.7% | 13.3% | 18.8% | 14.9% | 16.3% | 14.6% |
| Return on equity % | — | — | 12.9% | 4.1% | 19.1% | 14.9% | 16.3% | 13.5% |
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.