Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 73.3% | ||||
| 64.3% |
| 81.8% |
| 82.9% |
| 84.1% |
| EBITDA margin % | 30.1% | 36.4% | 27.2% | 30.5% | 20.3% | 20.2% | 17.6% | 15.6% |
| EBIT margin % | 30.1% | 33.8% | 25.3% | 28.9% | 18.9% | 18.4% | 16.1% | 14.2% |
| PAT margin % | 23.9% | 28.7% | 25.4% | 26.6% | 17.8% | 19.6% | 18.9% | 19.3% |
| Working capital | ||||||||
| Receivable days | — | — | — | 109 | 167 | 193 | 191 | 207 |
| Inventory days | — | — | — | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | — | 251 | 101 | 140 | 41 | 7 |
| NWC days | — | — | — | -142 | 67 | 53 | 150 | 200 |
| Leverage | ||||||||
| Current ratio | — | — | — | 6.18 | 6.28 | 7.21 | 8.75 | 7.52 |
| Debt to EBITDA | — | — | — | 0 | 0 | 0 | 0 | 0 |
| Debt to equity | — | — | — | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 64.5 | 73.6 | 77.8 | 61.1 | 56.5 | 65.3 | 73.7 | 66 |
| Asset turnover | — | — | — | 0.33 | 0.36 | 0.27 | 0.31 | 0.3 |
| Return ratios | ||||||||
| Return on assets % | — | — | — | 8.9% | 6.3% | 5.4% | 5.9% | 5.8% |
| Return on capital employed % | — | — | — | 13.5% | 9.9% | 8% | 8.5% | 8.3% |
| Return on equity % | — | — | — | 10.5% | 7.4% | 6.1% | 6.7% | 6.6% |
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.