Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 70.5% | 33.2% | 31.5% | 30.5% | 28.9% | 31.1% | 32.5% | 32.3% |
| EBITDA margin % | 8.6% | 10.2% | 11.4% | 9.6% | 7.4% | 7.8% | 8% | 7.3% |
| EBIT margin % | 7.7% | 9.1% | 10% | 8.2% | 6% | 6.3% | 6.6% | 5.9% |
| PAT margin % | 6.5% | 7.5% | 7.4% | 6.5% | 4.4% | 5.1% | 4.9% | 4.6% |
| Working capital | ||||||||
| Receivable days | 65 | 47 | 52 | 50 | 48 | 44 | 35 | 33 |
| Inventory days | 179 | 105 | 124 | 129 | 87 | 82 | 88 | 79 |
| Payable days | 17 | 6 | 93 | 68 | 55 | 56 | 65 | 65 |
| NWC days | 226 | 146 | 83 | 111 | 80 | 71 | 59 | 47 |
| Leverage | ||||||||
| Current ratio | 2.45 | 2.63 | 2.38 | 2.45 | 1.78 | 1.61 | 1.62 | 1.73 |
| Debt to EBITDA | 0.05 | 0.04 | 0.03 | 0.03 | 1.4 | 0.82 | 0.03 | 0.02 |
| Debt to equity | 0.01 | 0.01 | 0.01 | 0.01 | 0.26 | 0.16 | 0.01 | 0 |
| Interest coverage | 170 | 66.8 | 51.8 | 39.6 | 16.2 | 9 | 18.5 | 53.6 |
| Asset turnover | 1.89 | 1.72 | 1.45 | 1.67 | 1.49 | 1.58 | 1.75 | 1.73 |
| Return ratios | ||||||||
| Return on assets % | 12.2% | 12.9% | 10.7% | 10.9% | 6.6% | 8% | 8.6% | 7.9% |
| Return on capital employed % | 25.6% | 25.5% | 25.1% | 21.7% | 15% | 17.2% | 18.2% | 17.1% |
| Return on equity % | 18.4% | 18.6% | 16.5% | 16.2% | 11.3% | 13.1% | 13% | 11.7% |
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.