Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 31.2% | 29.1% | 28.6% | 26.6% |
| EBITDA margin % | 17.6% | 17.5% | 17.3% | 15.5% |
| EBIT margin % | 9.2% | 9.5% | 9.5% | 7.2% |
| PAT margin % | 1.8% | 6.8% | 3.9% | 4.7% |
| Working capital | ||||
| Receivable days | 105 | 123 | 135 | 154 |
| Inventory days | 1 | 0 | 0 | 0 |
| Payable days | 0 | 14 | 16 | 15 |
| NWC days | 105 | 109 | 119 | 140 |
| Leverage | ||||
| Current ratio | 1.16 | 1.73 | 1.77 | 2.02 |
| Debt to EBITDA | 1.5 | 1.06 | 1.1 | 2.07 |
| Debt to equity | 1.26 | 0.44 | 0.42 | 0.66 |
| Interest coverage | 1.4 | 2 | 2.1 | 2.1 |
| Asset turnover | 1.05 | 1.07 | 1.11 | 1.02 |
| Return ratios | ||||
| Return on assets % | 1.9% | 7.3% | 4.3% | 4.8% |
| Return on capital employed % | 15.7% | 18.9% | 15.9% | 17% |
| Return on equity % | 8.8% | 16.4% | 8.6% | 9.6% |
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.