Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 94.2% | 92.5% | 95.7% | — | — | — | — | — |
| EBITDA margin % | 8.5% | 14.5% | 13% | 10.7% | 8.7% | 11.1% | 11.4% | 13.4% |
| EBIT margin % | 7.6% | 9.6% | 7.8% | 7.2% | 6.1% | 7.9% | 8.6% | 11% |
| PAT margin % | 5.4% | 6.1% | 6.1% | 4.4% | 5.7% | 4.6% | 3.8% | 4.8% |
| Working capital | ||||||||
| Receivable days | 67 | 53 | 19 | 14 | 11 | 10 | 15 | 11 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | 222 | 14 | 11 | 9 | 17 | 0 |
| NWC days | — | — | -203 | -0 | 0 | 1 | -2 | 11 |
| Leverage | ||||||||
| Current ratio | 1.52 | 1.91 | 1.6 | 1.14 | 1.2 | 0.79 | 0.85 | 1.09 |
| Debt to EBITDA | 1.15 | 0.49 | 2.48 | 2.87 | 5.46 | 7.37 | 6.24 | 3.3 |
| Debt to equity | 0.11 | 0.08 | 0.29 | 0.33 | 0.65 | 1.27 | 0.91 | 0.46 |
| Interest coverage | 7.6 | 3.3 | 4.5 | 7.7 | 5.1 | 2 | 1.9 | 1.9 |
| Asset turnover | 0.78 | 0.68 | 0.58 | 0.59 | 0.69 | 0.52 | 0.53 | 0.55 |
| Return ratios | ||||||||
| Return on assets % | 4.2% | 4.2% | 3.5% | 2.6% | 3.9% | 2.4% | 2% | 2.6% |
| Return on capital employed % | 8.7% | 10.6% | 9% | 9.3% | 11.3% | 13.5% | 12.8% | 10.4% |
| Return on equity % | 5.9% | 6.6% | 5.6% | 4.8% | 7.8% | 7.1% | 4.9% | 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.