Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 42.7% | 47% | 43.8% | 41.2% | 39.3% |
| EBITDA margin % | 23.2% | 24.8% | 24.4% | 17% | 17% | 15.1% | 15.5% | 13.9% |
| EBIT margin % | 21.3% | 22% | 21.6% | 14.6% | 14.5% | 12% | 12.9% | 11.2% |
| PAT margin % | 18.4% | 20.3% | 18.1% | 11.9% | 12.3% | 10.2% | 10.7% | 10.2% |
| Working capital | ||||||||
| Receivable days | 39 | 47 | 52 | 29 | 29 | 39 | 44 | 38 |
| Inventory days | 42 | 54 | 58 | 92 | 102 | 99 | 72 | 74 |
| Payable days | 34 | 2 | 54 | 2 | — | — | — | — |
| NWC days | 47 | 98 | 56 | 119 | — | — | — | — |
| Leverage | ||||||||
| Current ratio | 4.41 | 3.74 | 4.06 | 3.42 | 3.41 | 3.15 | 3.11 | 2.38 |
| Debt to EBITDA | 0.28 | 0.27 | 0.47 | 0.44 | 0.42 | 0.44 | 0.27 | 0.17 |
| Debt to equity | 0.05 | 0.07 | 0.08 | 0.04 | 0.05 | 0.04 | 0.03 | 0.02 |
| Interest coverage | 677.8 | 72.2 | 70.4 | 27.2 | 30.1 | 20.1 | 28.5 | 38.3 |
| Asset turnover | 0.71 | 0.8 | 0.55 | 0.5 | 0.64 | 0.51 | 0.6 | 0.71 |
| Return ratios | ||||||||
| Return on assets % | 13.1% | 16.3% | 10% | 6% | 7.8% | 5.3% | 6.4% | 7.3% |
| Return on capital employed % | 16.2% | 21.4% | 18% | 11.3% | 10.6% | 8.6% | 9.9% | 9.9% |
| Return on equity % | 14.7% | 20.5% | 12.1% | 6.8% | 9.1% | 6% | 7.2% | 8.5% |
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.