Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | ||||
| — |
| — |
| — |
| — |
| EBITDA margin % | 39.8% | 24.9% | 49.4% | 40% | 36.2% | 49.5% | 46.8% | 40.8% |
| EBIT margin % | 38.3% | 22.6% | 47.7% | 38.5% | 34.4% | 48% | 45.2% | 38.7% |
| PAT margin % | 26.5% | 15.5% | 33% | 27.5% | 21.3% | 32.8% | 26% | 19.4% |
| Working capital | ||||||||
| Receivable days | — | — | 104 | 95 | — | — | — | — |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | 933 | 815 | — | — | — | — |
| NWC days | — | — | -829 | -721 | — | — | — | — |
| Leverage | ||||||||
| Current ratio | — | — | 0.59 | 0.79 | — | — | — | — |
| Debt to EBITDA | — | — | 1.95 | 2.11 | 3.87 | 3.01 | 3.49 | 7.08 |
| Debt to equity | — | — | 0.57 | 0.51 | 0.84 | 1.14 | 1.23 | 1.73 |
| Interest coverage | 4.8 | 2.5 | 8.2 | 6.2 | 4.3 | 5.1 | 3.1 | 2.4 |
| Asset turnover | — | — | 0.24 | 0.24 | 0.19 | 0.22 | 0.24 | 0.16 |
| Return ratios | ||||||||
| Return on assets % | — | — | 7.8% | 6.5% | 4.1% | 7.1% | 6.2% | 3.1% |
| Return on capital employed % | — | — | 26.1% | 23.4% | — | — | — | — |
| Return on equity % | — | — | 19.7% | 16.7% | 12.8% | 25.2% | 19.5% | 11.6% |
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.