Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 66.2% | 40.5% | 39.1% | 35.4% | 36.2% | 38.7% | 42% | 42.6% |
| EBITDA margin % | 14.3% | 13% | 11% | 9.9% | 13.7% | 14.9% | 16.4% | 15.7% |
| EBIT margin % | 11.8% | 8.4% | 6.2% | 6.3% | 10.6% | 12% | 13.2% | 12.5% |
| PAT margin % | 9.9% | 8.2% | 5.6% | 5.6% | 9.2% | 10.7% | 12.1% | 12.5% |
| Working capital | ||||||||
| Receivable days | 81 | 69 | 115 | 96 | 80 | 90 | 107 | 82 |
| Inventory days | 57 | 36 | 37 | 32 | 26 | 26 | 31 | 41 |
| Payable days | — | — | — | 77 | 60 | 59 | 55 | 66 |
| NWC days | — | — | — | 51 | 47 | 58 | 82 | 58 |
| Leverage | ||||||||
| Current ratio | 3.39 | 5.93 | 3.92 | 3.92 | 4.19 | 4.94 | 6.03 | 5.6 |
| Debt to EBITDA | — | — | — | 0 | 0 | 0 | 0 | 0 |
| Debt to equity | — | — | — | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | — | 117.3 | 77.5 | 104 | 76.3 | 109.7 | 107.5 | 131.1 |
| Asset turnover | 1.22 | 0.88 | 0.75 | 0.96 | 1.14 | 1.12 | 1.01 | 0.93 |
| Return ratios | ||||||||
| Return on assets % | 12.1% | 7.3% | 4.2% | 5.4% | 10.5% | 12% | 12.2% | 11.6% |
| Return on capital employed % | 24.4% | 12.1% | 7.9% | 9.5% | 18.7% | 20.5% | 19.9% | 19.7% |
| Return on equity % | 15.9% | 8.4% | 5.2% | 6.7% | 13.2% | 14.5% | 14.3% | 13.8% |
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.