Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 33.7% | 29% | 24.7% | 24.7% | 28.3% | 24.1% | 26.9% | 28.8% |
| EBIT margin % | 26.9% | 20.2% | 13.4% | 17.8% | 22.3% | 19% | 22.1% | 22.7% |
| PAT margin % | 32.3% | 18.7% | 13.5% | 20.2% | 18.5% | 16.2% | 18.8% | 20.9% |
| Working capital | ||||||||
| Receivable days | 347 | 117 | 74 | 72 | 102 | 76 | 55 | 66 |
| Inventory days | 2 | 6 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | 29 | 24 | 17 | 21 | 20 | 23 |
| NWC days | — | — | 45 | 48 | 85 | 56 | 35 | 43 |
| Leverage | ||||||||
| Current ratio | 2.13 | 2.22 | 3.42 | 2.51 | 1.69 | 1.66 | 2.18 | 1.19 |
| Debt to EBITDA | 1.25 | 0.07 | 0.02 | 0.01 | 0 | 0 | 0 | 0 |
| Debt to equity | 0.11 | 0.02 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 15.9 | 14.3 | 14.5 | 26.5 | 25.9 | 31.1 | 57.4 | 39.1 |
| Asset turnover | 0.19 | 0.77 | 0.61 | 0.68 | 0.83 | 0.94 | 1.01 | 0.85 |
| Return ratios | ||||||||
| Return on assets % | 6% | 14.3% | 8.2% | 13.8% | 15.4% | 15.2% | 19% | 17.8% |
| Return on capital employed % | 10% | 21.6% | 11.7% | 23% | 26.7% | 28.6% | 33.9% | 32.4% |
| Return on equity % | 8.1% | 19.1% | 10.3% | 19.5% | 20.2% | 20.4% | 24.7% | 24.1% |
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.