Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 97.6% | 95.2% | 97% | — | — | — | — |
| EBITDA margin % | 15% | 13.5% | 11.6% | 12.9% | 10.7% | 10.5% | 6.9% | 10.5% |
| EBIT margin % | 11.1% | 9.4% | 7.6% | 10.3% | 8.2% | 7.9% | 4.1% | 7.3% |
| PAT margin % | 15% | 18.9% | 9.9% | 19.5% | 17.3% | 20.5% | 9.5% | 14.6% |
| Working capital | ||||||||
| Receivable days | — | — | 49 | 47 | 68 | 73 | 75 | 94 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | 613 | 1,429 | 32 | 36 | 30 | 77 |
| NWC days | — | — | -564 | -1,382 | 35 | 37 | 44 | 17 |
| Leverage | ||||||||
| Current ratio | — | — | 2.28 | 1.04 | 1.6 | 1.8 | 1.34 | 1.4 |
| Debt to EBITDA | — | — | 0 | 0.79 | 0.74 | 0.67 | 1.17 | 0.13 |
| Debt to equity | — | — | 0 | 0.15 | 0.13 | 0.1 | 0.08 | 0.02 |
| Interest coverage | 69.6 | 63.5 | 49.9 | 14.3 | 15.9 | 15.8 | 13.3 | 23.3 |
| Asset turnover | — | — | 1.07 | 1.02 | 1.12 | 1.08 | 0.75 | 0.83 |
| Return ratios | ||||||||
| Return on assets % | — | — | 10.7% | 19.9% | 19.4% | 22.1% | 7.2% | 12% |
| Return on capital employed % | — | — | 15.3% | 32.9% | 32.5% | 32.8% | 14.4% | 21.6% |
| Return on equity % | — | — | 13.3% | 29.2% | 28% | 29.9% | 9.2% | 16.5% |
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.