Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 37.8% | 35.1% | 43.9% | 43% | 34.6% | 44.1% | 36.7% | 32.5% |
| EBIT margin % | 36.8% | 33.6% | 42.9% | 42.2% | 33.2% | 43% | 35.5% | 30.8% |
| PAT margin % | 23.4% | 22.8% | 31.8% | 35.5% | 19.8% | 28.8% | 22% | 16% |
| Working capital | ||||||||
| Receivable days | — | — | 482 | 572 | — | — | — | — |
| Inventory days | — | — | 59 | 70 | 0 | 0 | 0 | 0 |
| Payable days | — | — | 934 | 991 | — | — | — | — |
| NWC days | — | — | -393 | -349 | — | — | — | — |
| Leverage | ||||||||
| Current ratio | — | — | 1.6 | 1.59 | — | — | — | — |
| Debt to EBITDA | — | — | 1 | 1.19 | 1.1 | 0.92 | 0.92 | 3.39 |
| Debt to equity | — | — | 0.31 | 0.38 | 0.22 | 0.31 | 0.23 | 0.55 |
| Interest coverage | 5.6 | 3.7 | 14.8 | 11.3 | 5 | 8.1 | 4.5 | 3.2 |
| Asset turnover | — | — | 0.26 | 0.28 | 0.27 | 0.3 | 0.33 | 0.2 |
| Return ratios | ||||||||
| Return on assets % | — | — | 8.2% | 9.8% | 5.4% | 8.8% | 7.2% | 3.1% |
| Return on capital employed % | — | — | 28.2% | 33.7% | — | — | — | — |
| Return on equity % | — | — | 22.1% | 26% | 11.3% | 22.4% | 15.1% | 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.