Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 39.4% | — | — | — | — | — |
| EBITDA margin % | 26.2% | 26.6% | 25.4% | 23.6% | 22.9% | 23.6% |
| EBIT margin % | 15.2% | 17.5% | 18.2% | 17.7% | 16.9% | 18.8% |
| PAT margin % | 8.1% | 16.5% | 16.9% | 16.4% | 15.9% | 17% |
| Working capital | ||||||
| Receivable days | 40 | 31 | 35 | 36 | 43 | 41 |
| Inventory days | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 50 | 34 | 36 | 35 | 40 | 44 |
| NWC days | -9 | -3 | -1 | 1 | 3 | -3 |
| Leverage | ||||||
| Current ratio | 0.77 | 0.96 | 0.68 | 0.68 | 0.88 | 0.9 |
| Debt to EBITDA | 1.69 | 1.34 | 1.13 | 0.89 | 0.66 | 0.45 |
| Debt to equity | 0.36 | 0.3 | 0.23 | 0.17 | 0.11 | 0.08 |
| Interest coverage | 2.5 | 4.3 | 6.6 | 6.7 | 7.5 | 10.7 |
| Asset turnover | 0.51 | 0.58 | 0.58 | 0.59 | 0.57 | 0.59 |
| Return ratios | ||||||
| Return on assets % | 4.1% | 9.5% | 9.8% | 9.6% | 9.1% | 10% |
| Return on capital employed % | 9.5% | 13.5% | 13.7% | 13.3% | 13% | 13.9% |
| Return on equity % | 6.5% | 14% | 13.5% | 13% | 11.8% | 12.6% |
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.