Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 26.7% | 21.1% | 24.9% | 29.3% | 22.9% | 28.3% | 23.6% | 24.2% |
| EBIT margin % | 23.5% | 14.6% | 17.9% | 23.8% | 17.8% | 24.5% | 19.9% | 20.8% |
| PAT margin % | 27.3% | 16.3% | 20.2% | 32.5% | 15.9% | 20.2% | 46.6% | 6.5% |
| Working capital | ||||||||
| Receivable days | 115 | 174 | 212 | — | 116 | 139 | 149 | 88 |
| Inventory days | — | 69 | 56 | — | 0 | 0 | 0 | 0 |
| Payable days | — | 113 | 160 | — | 66 | 71 | 23 | 48 |
| NWC days | — | 130 | 109 | — | 50 | 68 | 126 | 40 |
| Leverage | ||||||||
| Current ratio | 6.07 | 2.24 | 2.57 | — | 2.8 | 3.37 | 6.98 | 4.05 |
| Debt to EBITDA | — | 0.9 | 0.8 | — | 0.27 | 0 | 0 | 0 |
| Debt to equity | — | 0.11 | 0.09 | — | 0.05 | 0 | 0 | 0 |
| Interest coverage | 493 | 23.6 | 25.1 | 66.5 | 28.8 | 30.8 | 33 | 60.6 |
| Asset turnover | 0.63 | 0.36 | 0.31 | — | 0.66 | 0.68 | 0.56 | 0.55 |
| Return ratios | ||||||||
| Return on assets % | 17.1% | 5.9% | 6.2% | — | 10.4% | 13.7% | 26.3% | 3.6% |
| Return on capital employed % | 24.3% | 13% | 11.4% | — | 16.5% | 22.4% | 15.8% | 16.3% |
| Return on equity % | 19.7% | 9.7% | 9.4% | — | 13.1% | 16.9% | 29.9% | 4.3% |
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.