Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 82.4% | 83.6% | 82.8% | 78% | 76.2% | 76.1% | 76% |
| EBITDA margin % | 4.4% | 5.3% | 3.6% | 4.9% | 5.1% | 6.7% | 7.7% | 8.3% |
| EBIT margin % | 3.9% | 4.5% | 2.7% | 4.1% | 4.2% | 5.7% | 6.7% | 7.2% |
| PAT margin % | 2.3% | 2.5% | 1.1% | 2.5% | 3.8% | 5.2% | 5.8% | 6.6% |
| Working capital | ||||||||
| Receivable days | — | 29 | 29 | 27 | 32 | 40 | 45 | 47 |
| Inventory days | — | 133 | 162 | 149 | 134 | 125 | 132 | 146 |
| Payable days | — | 85 | 113 | 105 | 104 | 110 | 123 | 130 |
| NWC days | — | 77 | 78 | 71 | 61 | 54 | 54 | 63 |
| Leverage | ||||||||
| Current ratio | — | 1.04 | 1.23 | 1.41 | 1.76 | 1.93 | 1.96 | 2.03 |
| Debt to EBITDA | — | 0.88 | 0.56 | 0.23 | 0 | 0 | 0 | 0 |
| Debt to equity | — | 0.35 | 0.13 | 0.07 | 0 | 0 | 0 | 0 |
| Interest coverage | 5.8 | 6.9 | 4.7 | 20 | 11.8 | 23.4 | 24.8 | 16.4 |
| Asset turnover | — | 3.34 | 3.34 | 3.52 | 2.88 | 2.36 | 2.11 | 2 |
| Return ratios | ||||||||
| Return on assets % | — | 8.2% | 3.8% | 8.8% | 11% | 12.2% | 12.3% | 13.2% |
| Return on capital employed % | — | 33.6% | 19.3% | 28% | 22.1% | 27.1% | 28.8% | 29.9% |
| Return on equity % | — | 18.5% | 7.5% | 15.7% | 17.7% | 18.8% | 19.8% | 21% |
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.