Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | ||||
| — |
| — |
| — |
| 98.5% |
| EBITDA margin % | 17% | 18.1% | 21.4% | 18.2% | 21.5% | 14.5% | 14.6% | 15.7% |
| EBIT margin % | 15% | 16% | 19.5% | 16.2% | 18.5% | 11.1% | 10.9% | 12.8% |
| PAT margin % | 11.1% | 13% | 15% | 12.3% | 13.7% | 8.4% | 9.3% | 10.7% |
| Working capital | ||||||||
| Receivable days | 39 | 87 | 88 | 160 | 89 | 110 | 93 | 93 |
| Inventory days | — | — | — | 3 | 0 | 0 | 0 | 0 |
| Payable days | 0 | 1 | 0 | 0 | 22 | 15 | 16 | 1,093 |
| NWC days | — | — | — | 162 | 67 | 95 | 78 | -1,000 |
| Leverage | ||||||||
| Current ratio | 2.45 | 2.36 | 3.03 | 2.34 | 3.63 | 5.18 | 5.07 | 6.48 |
| Debt to EBITDA | — | — | — | 0.01 | 0 | 0 | 0 | 0 |
| Debt to equity | — | — | — | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 687 | 44.9 | 60 | 89.5 | 77.8 | 42.5 | 36.6 | 66.9 |
| Asset turnover | 1.78 | 1.47 | 1.32 | 0.75 | 1.42 | 1.39 | 1.42 | 1.18 |
| Return ratios | ||||||||
| Return on assets % | 19.8% | 19% | 19.8% | 9.2% | 19.4% | 11.7% | 13.2% | 12.6% |
| Return on capital employed % | 46% | 43.2% | 43.9% | 25.2% | 40.1% | 20.1% | 20.2% | 23% |
| Return on equity % | 29.4% | 30.3% | 28.3% | 14.3% | 26% | 14.9% | 17% | 15% |
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.