Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 90.4% | 84.8% | ||||
| 80.8% |
| 80.2% |
| 80.6% |
| 79.6% |
| EBITDA margin % | 24.1% | 29.1% | 25.7% | 24.7% | 24.7% | 20.7% | 21% | 19.5% |
| EBIT margin % | 21.8% | 27.2% | 23.3% | 23% | 23.3% | 19% | 19.6% | 17.4% |
| PAT margin % | 29.7% | 33.1% | 48% | 32.5% | 26.3% | 37.1% | 25.8% | 19.8% |
| Working capital | ||||||||
| Receivable days | — | — | 144 | 19 | 10 | 15 | 14 | 21 |
| Inventory days | — | — | 9 | 4 | 4 | 4 | 4 | 5 |
| Payable days | — | — | 1,706 | 767 | 471 | 361 | 336 | 0 |
| NWC days | — | — | -1,553 | -744 | -456 | -342 | -318 | 25 |
| Leverage | ||||||||
| Current ratio | — | — | 6.16 | 2.62 | 2.85 | 4.77 | 2.68 | 3.41 |
| Debt to EBITDA | — | — | 0 | 0 | 0.32 | 0.32 | 0.25 | 0.21 |
| Debt to equity | — | — | 0 | 0 | 0.03 | 0.02 | 0.02 | 0.01 |
| Interest coverage | — | — | — | — | 151 | 76.2 | 73.8 | 59.2 |
| Asset turnover | — | — | 0.16 | 0.2 | 0.26 | 0.27 | 0.28 | 0.29 |
| Return ratios | ||||||||
| Return on assets % | — | — | 7.6% | 6.6% | 6.9% | 10% | 7.3% | 5.8% |
| Return on capital employed % | — | — | 11.4% | 11.1% | 11.7% | 15.9% | 11.7% | 8.8% |
| Return on equity % | — | — | 9.4% | 8.3% | 9.1% | 12.1% | 8.8% | 6.9% |
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.