Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 97.7% | 98.1% | 98.8% | — | — | — | — | — |
| EBITDA margin % | 18.2% | 20.3% | 24% | 20.8% | 17.9% | 17.5% | 19.3% | 19.2% |
| EBIT margin % | 16.3% | 18% | 21.3% | 18.3% | 15.6% | 15.3% | 17.2% | 17.2% |
| PAT margin % | 15.8% | 17.2% | 20% | 20.4% | 13.5% | 13.7% | 16% | 17% |
| Working capital | ||||||||
| Receivable days | 72 | 70 | 61 | 57 | 54 | 47 | 44 | 49 |
| Inventory days | 114 | 66 | 53 | 1 | 1 | 0 | 0 | 0 |
| Payable days | 1 | 5 | 11 | 1 | 35 | 39 | 46 | 38 |
| NWC days | 185 | 132 | 103 | 57 | 19 | 8 | -2 | 12 |
| Leverage | ||||||||
| Current ratio | 2.96 | 2.78 | 2.5 | 2.23 | 2.86 | 2.74 | 2.68 | 2.42 |
| Debt to EBITDA | 0.58 | 0.49 | 0.48 | 0.62 | 0.43 | 0.36 | 0.47 | 0.45 |
| Debt to equity | 0.1 | 0.11 | 0.13 | 0.14 | 0.08 | 0.07 | 0.1 | 0.1 |
| Interest coverage | 19.8 | 21.6 | 32.5 | 42.5 | 20.5 | 16.1 | 15.7 | 15.5 |
| Asset turnover | 0.72 | 0.77 | 0.77 | 0.74 | 0.79 | 0.82 | 0.73 | 0.73 |
| Return ratios | ||||||||
| Return on assets % | 11.4% | 13.3% | 15.3% | 15.1% | 10.8% | 11.2% | 11.7% | 12.5% |
| Return on capital employed % | 22% | 23.2% | 27.1% | 29.8% | 20.9% | 20.4% | 23.2% | 24% |
| Return on equity % | 15.4% | 18.7% | 22.2% | 22.3% | 14.6% | 15.8% | 17.2% | 19% |
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.