Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 91.7% | 91.4% | 93.9% | ||||
| 79.8% |
| 70.5% |
| 64.8% |
| 71% |
| EBITDA margin % | 22.2% | 22.6% | -20% | 5.1% | 14% | 10.6% | -4.7% | 13.5% |
| EBIT margin % | 19.3% | 19% | -29.5% | 0.4% | 11% | 5.3% | -14.2% | 3.3% |
| PAT margin % | 25.7% | 43.4% | 102.7% | 40% | 47.5% | 31.2% | 15.9% | 48.8% |
| Working capital | ||||||||
| Receivable days | 27 | 26 | 45 | 18 | 15 | 56 | 36 | 37 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | 90 | 64 | 49 | 42 | 164 | 53 |
| NWC days | — | — | -45 | -47 | -34 | 14 | -128 | -16 |
| Leverage | ||||||||
| Current ratio | 1.78 | 2.31 | 6.43 | 1.83 | 2.94 | 2.72 | 1.74 | 0.68 |
| Debt to EBITDA | 0.62 | 0.03 | — | 0 | 0 | 0 | — | 0 |
| Debt to equity | 0.21 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 26.1 | 51.1 | 170.9 | 194.4 | 467.1 | 28.2 | 7 | 16.7 |
| Asset turnover | 0.76 | 0.79 | 0.31 | 0.45 | 0.9 | 0.92 | 0.63 | 0.72 |
| Return ratios | ||||||||
| Return on assets % | 19.5% | 34.5% | 32.2% | 18.1% | 42.9% | 28.7% | 10% | 35% |
| Return on capital employed % | 54.7% | 77.5% | 48.3% | 29.9% | 66.9% | 44.6% | 19.2% | 61.4% |
| Return on equity % | 39.3% | 55.4% | 37.4% | 27.3% | 53% | 41.4% | 20.6% | 111.3% |
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.