Standalone figures
| Ratio | Mar 2022 | Dec 2022 | Mar 2023 | Dec 2023 | Mar 2024 | Dec 2024 | Mar 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 20.8% | 16.8% | 17.2% | 20.8% | 20.1% | 15.1% | 14.2% | 16.8% |
| EBIT margin % | 16% | 12.1% | 12.8% | 16.7% | 16.5% | 12.5% | 11.1% | 12.4% |
| PAT margin % | 35% | 25.7% | 26.8% | 41% | 38.7% | 37% | 39.9% | 34.2% |
| Working capital | ||||||||
| Receivable days | — | 92 | — | 84 | — | 62 | — | 68 |
| Inventory days | — | 0 | — | 0 | — | 0 | — | 0 |
| Payable days | — | 34 | — | 35 | — | 29 | — | 32 |
| NWC days | — | 58 | — | 49 | — | 33 | — | 37 |
| Leverage | ||||||||
| Current ratio | — | 1.97 | — | 2.69 | — | 2.31 | — | 2.22 |
| Debt to EBITDA | — | 0 | — | 0 | — | 0.17 | — | 0 |
| Debt to equity | — | 0 | — | 0 | — | 0.02 | — | 0 |
| Interest coverage | 84.8 | 79.8 | 98.7 | 233.7 | 272.4 | 227.8 | 100.8 | 37.4 |
| Asset turnover | — | 0.9 | — | 0.8 | — | 0.64 | — | 0.62 |
| Return ratios | ||||||||
| Return on assets % | — | 23% | — | 32.7% | — | 23.7% | — | 21.3% |
| Return on capital employed % | — | 39.4% | — | 48.9% | — | 34.7% | — | 31.4% |
| Return on equity % | — | 34.6% | — | 44.9% | — | 34.5% | — | 30.3% |
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.