Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | ||||
Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | ||||
| — |
| — |
| — |
| — |
| EBITDA margin % | 72.1% | 75% | 75.2% | 73.2% | 72.6% | 73.5% | 75.3% | 73.7% |
| EBIT margin % | 72.1% | 72.8% | 73.4% | 71.4% | 70.8% | 71.9% | 73.7% | 72.1% |
| PAT margin % | 24.8% | 27.6% | 26.2% | 27.4% | 26.7% | 24.3% | 24.4% | 24.4% |
| Working capital | ||||||||
| Receivable days | — | — | — | — | — | — | — | — |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | — | 4 | — | — | — | — |
| NWC days | — | — | — | — | — | — | — | — |
| Leverage | ||||||||
| Current ratio | — | — | — | — | — | — | — | — |
| Debt to EBITDA | 7.13 | 7.91 | 7.65 | 8.35 | 8.43 | 8.32 | 7.81 | 7.89 |
| Debt to equity | 1.99 | 2.55 | 2.64 | 2.84 | 3.01 | 3.27 | 3.18 | 3.09 |
| Interest coverage | 2 | 1.8 | 1.8 | 2 | 1.9 | 1.8 | 1.7 | 1.8 |
| Asset turnover | 0.13 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.13 | 0.13 |
| Return ratios | ||||||||
| Return on assets % | 3.1% | 3.3% | 3.2% | 3.2% | 3.2% | 3% | 3.1% | 3.1% |
| Return on capital employed % | — | — | — | — | — | — | — | — |
| Return on equity % | 9.6% | 11.9% | 12.1% | 12.7% | 13.2% | 13% | 13.2% | 13% |
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.