Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | ||||
| — |
| — |
| — |
| — |
| EBITDA margin % | 78.2% | 72.6% | 70.5% | 71.6% | 72.5% | 72.4% | 70.5% | 68.3% |
| EBIT margin % | 77.4% | 71.4% | 69.5% | 70.7% | 71.5% | 71.3% | 69.6% | 67.4% |
| PAT margin % | 17% | 12.2% | 15.9% | 21.4% | 20.9% | 18.2% | 16.5% | 16.9% |
| Working capital | ||||||||
| Receivable days | 0 | 1 | 1 | 1 | — | — | — | — |
| Inventory days | — | — | — | — | 0 | 0 | 0 | 0 |
| Payable days | 80 | 47 | 7 | 103 | — | — | — | — |
| NWC days | — | — | — | — | — | — | — | — |
| Leverage | ||||||||
| Current ratio | — | — | — | — | — | — | — | — |
| Debt to EBITDA | 9.25 | 8.75 | 9.5 | 9.61 | 10.53 | 9.86 | 9.64 | 9.97 |
| Debt to equity | 8.19 | 6.73 | 6.67 | 5.91 | 6.81 | 6.88 | 7.4 | 6.94 |
| Interest coverage | 1.5 | 1.3 | 1.4 | 1.7 | 1.6 | 1.5 | 1.5 | 1.5 |
| Asset turnover | 0.12 | 0.14 | 0.13 | 0.12 | 0.11 | 0.12 | 0.13 | 0.13 |
| Return ratios | ||||||||
| Return on assets % | 2.1% | 1.6% | 2% | 2.6% | 2.3% | 2.2% | 2.1% | 2.1% |
| Return on capital employed % | — | — | — | — | — | — | — | — |
| Return on equity % | 19.2% | 12.9% | 15.8% | 18.3% | 18.6% | 17.5% | 18% | 17.2% |
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.