Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 77.2% | 79% | 82.7% | 82.9% | 79.8% | 80% | 79.1% | 85.8% |
| EBIT margin % | 77.2% | 78.5% | 82.2% | 82.4% | 79.3% | 79.5% | 78.6% | 85.4% |
| PAT margin % | 28.7% | 34.6% | 35.3% | 35.7% | 33% | 32.1% | 30.4% | 36.8% |
| Working capital | ||||||||
| Receivable days | 1 | 0 | 0 | 0 | — | — | — | — |
| Inventory days | — | — | — | — | 0 | 0 | 0 | 0 |
| Payable days | — | — | — | — | — | — | — | — |
| NWC days | — | — | — | — | — | — | — | — |
| Leverage | ||||||||
| Current ratio | — | — | — | — | — | — | — | — |
| Debt to EBITDA | 5.05 | 5.39 | 5.26 | 5.42 | 5.92 | 5.81 | 6.64 | 5.86 |
| Debt to equity | 2.74 | 3.21 | 3.02 | 2.72 | 2.36 | 2.42 | 3.16 | 3.67 |
| Interest coverage | 2.4 | 2.5 | 2.4 | 2.4 | 2.3 | 2.2 | 2.1 | 2.4 |
| Asset turnover | 0.18 | 0.17 | 0.17 | 0.16 | 0.14 | 0.15 | 0.14 | 0.15 |
| Return ratios | ||||||||
| Return on assets % | 5.2% | 6% | 5.9% | 5.6% | 4.8% | 4.8% | 4.3% | 5.6% |
| Return on capital employed % | — | — | — | — | — | — | — | — |
| Return on equity % | 20.1% | 26.1% | 24.4% | 21.6% | 16.5% | 16.7% | 18.3% | 26.9% |
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.