Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | — | — | — | — | — | — |
| EBITDA margin % | 25% | 23.8% | 24.1% | 19.6% | 13.4% | 15% |
| EBIT margin % | 22.3% | 21.4% | 21.8% | 17.3% | 10.9% | 12% |
| PAT margin % | 21.3% | 18% | 16.2% | 16.7% | 11.4% | 13% |
| Working capital | ||||||
| Receivable days | 56 | 57 | 54 | 57 | 65 | 72 |
| Inventory days | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 25 | 25 | 23 | 21 | 25 | 19 |
| NWC days | 30 | 32 | 32 | 36 | 40 | 52 |
| Leverage | ||||||
| Current ratio | 2.71 | 2.67 | 1.89 | 3.19 | 1.66 | 1.46 |
| Debt to EBITDA | 0.87 | 0.78 | 1.49 | 1.53 | 5.57 | 5.23 |
| Debt to equity | 0.3 | 0.28 | 0.58 | 0.3 | 0.71 | 0.83 |
| Interest coverage | 27.9 | 31.2 | 14.6 | 8.7 | 3.6 | 4.2 |
| Asset turnover | 0.84 | 0.95 | 0.85 | 0.67 | 0.49 | 0.51 |
| Return ratios | ||||||
| Return on assets % | 17.9% | 17.2% | 13.7% | 11.1% | 5.5% | 6.6% |
| Return on capital employed % | 30.3% | 37.5% | 35.3% | 27.2% | 18.1% | 19% |
| Return on equity % | 29.6% | 27.8% | 26.2% | 16.7% | 10.9% | 13.7% |
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.