Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 26.2% | 29.5% | 28% | 23.1% | 21.4% | 23.8% | 22.6% | 20.8% |
| EBIT margin % | 25.1% | 25.9% | 25.3% | 21.1% | 19.5% | 21.7% | 20.6% | 18.9% |
| PAT margin % | 22.4% | 27.7% | 20% | 16.7% | 15% | 15.9% | 16.5% | 14.8% |
| Working capital | ||||||||
| Receivable days | 53 | 65 | 39 | 41 | 75 | 71 | 71 | 103 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | 46 | 54 | 33 | 26 | 27 | 33 |
| NWC days | — | — | -7 | -13 | 42 | 45 | 44 | 70 |
| Leverage | ||||||||
| Current ratio | 2.11 | 2.11 | 2.72 | 2.01 | 2.56 | 3.39 | 3.13 | 2.66 |
| Debt to EBITDA | 0.27 | 0.18 | 0.12 | 0.21 | 0.05 | 0 | 0 | 0 |
| Debt to equity | 0.07 | 0.06 | 0.04 | 0.08 | 0.02 | 0 | 0 | 0 |
| Interest coverage | 146.8 | 23 | 28.8 | 28.6 | 26.5 | 31.8 | 28 | 32.8 |
| Asset turnover | 0.8 | 0.79 | 0.94 | 1.07 | 1.3 | 1.19 | 1.12 | 1.06 |
| Return ratios | ||||||||
| Return on assets % | 18% | 21.9% | 18.7% | 17.9% | 19.5% | 19% | 18.6% | 15.6% |
| Return on capital employed % | 26.7% | 37.9% | 32.9% | 34.3% | 37.1% | 35.6% | 32% | 28.6% |
| Return on equity % | 23.6% | 32.8% | 25.8% | 27.8% | 28.2% | 25.3% | 24.3% | 21.7% |
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.