Consolidated figures
| Ratio | Dec 2024 | Dec 2025 | Mar 2026 |
|---|---|---|---|
| Margins | |||
| Gross margin % | — | — | — |
| EBITDA margin % | 56.9% | 59.9% | 60.9% |
| EBIT margin % | 53% | 56.5% | 57.4% |
| PAT margin % | 40.6% | 43.3% | 44.5% |
| Working capital | |||
| Receivable days | 57 | 70 | 66 |
| Inventory days | 1 | 2 | 1 |
| Payable days | 48 | 68 | 31 |
| NWC days | 10 | 4 | 36 |
| Leverage | |||
| Current ratio | 3.35 | 5.16 | 5.04 |
| Debt to EBITDA | 0 | 0 | 0 |
| Debt to equity | 0 | 0 | 0 |
| Interest coverage | 71.8 | 75.8 | 79.2 |
| Asset turnover | 0.7 | 0.7 | 0.86 |
| Return ratios | |||
| Return on assets % | 28.4% | 30.3% | 38.3% |
| Return on capital employed % | 49.5% | 53.9% | 61.1% |
| Return on equity % | 40.2% | 37.7% | 47.8% |
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.