Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 36.4% | 40.6% | 35.1% | 25.9% | 27.5% | 37.1% | 37.8% | 43.1% |
| EBITDA margin % | 20.2% | 22.5% | 19.7% | 15.8% | 13.8% | 18.8% | 17.9% | 20.5% |
| EBIT margin % | 19.1% | 21.2% | 18.7% | 15.2% | 13% | 16.8% | 16% | 18.1% |
| PAT margin % | 12.7% | 15.2% | 13.8% | 10.9% | 9.4% | 12.1% | 11.4% | 12.9% |
| Working capital | ||||||||
| Receivable days | 99 | 124 | 130 | 102 | 91 | 106 | 123 | 137 |
| Inventory days | 89 | 93 | 84 | 67 | 75 | 108 | 115 | 136 |
| Payable days | — | — | 58 | 34 | 28 | 30 | 29 | 35 |
| NWC days | — | — | 156 | 135 | 138 | 184 | 209 | 239 |
| Leverage | ||||||||
| Current ratio | 2.2 | 2.61 | 2.99 | 2.32 | 2.87 | 4.8 | 2.92 | 3.31 |
| Debt to EBITDA | 0.91 | 0.64 | 0.57 | 1.06 | 0.89 | 0.35 | 0.96 | 0.74 |
| Debt to equity | 0.42 | 0.25 | 0.19 | 0.41 | 0.2 | 0.07 | 0.22 | 0.18 |
| Interest coverage | 12.9 | 16.4 | 32.1 | 21.2 | 14.8 | 16.4 | 25.3 | 14.8 |
| Asset turnover | 1.35 | 1.2 | 1.18 | 1.53 | 1.22 | 0.93 | 0.96 | 0.91 |
| Return ratios | ||||||||
| Return on assets % | 17.1% | 18.3% | 16.3% | 16.7% | 11.4% | 11.3% | 11% | 11.7% |
| Return on capital employed % | 46.4% | 40.3% | 34.4% | 41.3% | 21.6% | 19.1% | 21% | 21.8% |
| Return on equity % | 28.8% | 26.4% | 22.7% | 27% | 15.1% | 13% | 14.4% | 14.9% |
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.