Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 96.2% | 85.5% | 93.3% | 94.2% |
| EBITDA margin % | 7.3% | 6.8% | 6.5% | 6.6% |
| EBIT margin % | 6.6% | 6.1% | 5.8% | 5.6% |
| PAT margin % | 5.6% | 4.9% | 5.4% | 5.3% |
| Working capital | ||||
| Receivable days | 77 | 79 | 110 | 122 |
| Inventory days | 7 | 1 | 5 | 8 |
| Payable days | 194 | 118 | 205 | 239 |
| NWC days | -109 | -37 | -90 | -109 |
| Leverage | ||||
| Current ratio | 1.3 | 1.96 | 1.9 | 2.15 |
| Debt to EBITDA | 0.96 | 1.25 | 1.15 | 1.3 |
| Debt to equity | 0.3 | 0.22 | 0.19 | 0.19 |
| Interest coverage | 5.1 | 5.7 | 8.3 | 5.4 |
| Asset turnover | 2.04 | 1.57 | 1.52 | 1.4 |
| Return ratios | ||||
| Return on assets % | 11.4% | 7.7% | 8.2% | 7.5% |
| Return on capital employed % | 26.5% | 24.2% | 20% | 17.4% |
| Return on equity % | 23.8% | 13% | 14% | 12% |
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.