Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 7.4% | 18.6% | 24.3% | 24.4% | 22.8% | 22.5% | 24.8% | 30.5% |
| EBIT margin % | 2.9% | 8.2% | 11.7% | 11.9% | 11.2% | 10.4% | 12.1% | 17.4% |
| PAT margin % | 2.7% | -11.1% | 15.3% | 15.8% | 13.3% | 13.8% | 14.3% | 0.3% |
| Working capital | ||||||||
| Receivable days | — | — | 406 | 345 | 287 | 277 | 275 | 279 |
| Inventory days | — | — | 3 | 3 | 2 | 2 | 2 | 2 |
| Payable days | — | — | 114 | 109 | 85 | 82 | 77 | 61 |
| NWC days | — | — | 294 | 238 | 204 | 197 | 200 | 220 |
| Leverage | ||||||||
| Current ratio | — | — | 2.19 | 1.9 | 1.99 | 1.89 | 1.85 | 2.41 |
| Debt to EBITDA | — | — | 0.59 | 1.2 | 1.47 | 0 | 0 | 0 |
| Debt to equity | — | — | 0.35 | 0.5 | 0.54 | 0 | 0 | 0 |
| Interest coverage | 5.2 | 8.8 | 14.1 | 10.6 | 8.3 | 7.6 | 7.1 | 6.1 |
| Asset turnover | — | — | 0.13 | 0.15 | 0.17 | 0.17 | 0.17 | 0.18 |
| Return ratios | ||||||||
| Return on assets % | — | — | 2.1% | 2.3% | 2.3% | 2.4% | 2.5% | 0.1% |
| Return on capital employed % | — | — | 3.5% | 4.2% | 4.2% | 4.1% | 4.7% | 5.6% |
| Return on equity % | — | — | 37.6% | 26.8% | 21.3% | 19.1% | 15.6% | 0.4% |
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.