Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 69.6% | 62.7% | 55.7% | 59.2% | 66.2% | 67.2% | 64.6% | 64.2% |
| EBIT margin % | 68.8% | 61.5% | 54.4% | 58% | 64.9% | 65.8% | 63.2% | 62.9% |
| PAT margin % | 22.4% | 20.5% | 16.8% | 22.8% | 28.8% | 26.9% | 28.1% | 25.5% |
| Working capital | ||||||||
| Receivable days | 17 | 13 | 11 | 13 | — | — | — | — |
| Inventory days | — | — | — | — | 0 | 0 | 0 | 0 |
| Payable days | 53 | 33 | 30 | — | — | — | — | — |
| NWC days | — | — | — | — | — | — | — | — |
| Leverage | ||||||||
| Current ratio | — | — | — | — | — | — | — | — |
| Debt to EBITDA | 7.14 | 6.98 | 7.62 | 7.45 | — | 6.99 | 7.18 | 7.2 |
| Debt to equity | 4.41 | 3.28 | 2.78 | 2.93 | — | 3.06 | 3.13 | 3.13 |
| Interest coverage | 2 | 1.9 | 1.7 | 2.1 | 2.5 | 2.2 | 2 | 2.1 |
| Asset turnover | 0.16 | 0.17 | 0.17 | 0.17 | 0.16 | 0.16 | 0.16 | 0.16 |
| Return ratios | ||||||||
| Return on assets % | 3.6% | 3.5% | 2.9% | 3.8% | 4.8% | 4.3% | 4.5% | 4.1% |
| Return on capital employed % | — | — | — | — | — | — | — | — |
| Return on equity % | 19.9% | 15.3% | 11% | 15.1% | 20% | 17.6% | 18.9% | 17.3% |
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.