Standalone figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | — | — | — | — | — | — | — |
| EBITDA margin % | 18.8% | 33.3% | 38.8% | 43% | 39.9% | 39% | 37.8% |
| EBIT margin % | 18.8% | 31.9% | 38% | 42% | 38.8% | 37% | 35.4% |
| PAT margin % | 12.2% | 23.2% | 27.5% | 29.6% | 26.7% | 23.5% | 20.2% |
| Working capital | |||||||
| Receivable days | 20 | — | — | — | — | — | — |
| Inventory days | — | — | — | 0 | 0 | 0 | 0 |
| Payable days | — | 996 | 1,083 | — | — | — | — |
| NWC days | — | — | — | — | — | — | — |
| Leverage | |||||||
| Current ratio | — | 1.24 | 1.23 | — | — | — | — |
| Debt to EBITDA | 3.65 | 2.82 | 1.45 | 0.61 | 1.56 | 1.68 | 4.13 |
| Debt to equity | 0.86 | 1.06 | 0.81 | 0.37 | 0.88 | 0.6 | 1.27 |
| Interest coverage | 3.4 | 11 | 12.7 | 14.2 | 12.1 | 6.6 | 4.1 |
| Asset turnover | 0.33 | 0.26 | 0.31 | 0.4 | 0.32 | 0.31 | 0.21 |
| Return ratios | |||||||
| Return on assets % | 4% | 6.1% | 8.6% | 11.9% | 8.5% | 7.2% | 4.3% |
| Return on capital employed % | — | 39.4% | 67.1% | — | — | — | — |
| Return on equity % | 15.2% | 26.4% | 39.8% | 41.7% | 37.8% | 21.7% | 16.5% |
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.