Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 21.6% | 16.2% | 29.4% | 25.5% | 22.2% | 23.7% | 25.7% | 26.7% |
| EBIT margin % | 20.5% | 13.1% | 26.3% | 23.3% | 20% | 21.4% | 23.5% | 24.3% |
| PAT margin % | 17.4% | 11.4% | 19.3% | 22% | 19.1% | 20.9% | 21.7% | 20.1% |
| Working capital | ||||||||
| Receivable days | 157 | — | 105 | 97 | 128 | 101 | 97 | 106 |
| Inventory days | 0 | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 21 | — | 20 | 28 | 29 | 26 | 30 | 32 |
| NWC days | 136 | — | 85 | 69 | 99 | 75 | 67 | 74 |
| Leverage | ||||||||
| Current ratio | 2.67 | — | 3.31 | 3.42 | 3.19 | 3.92 | 4.27 | 4.28 |
| Debt to EBITDA | 0.66 | — | 0.09 | 0.13 | 0.02 | 0.16 | 0 | 0 |
| Debt to equity | 0.16 | — | 0.02 | 0.03 | 0 | 0.04 | 0 | 0 |
| Interest coverage | 15.9 | 9 | 32.7 | 61.6 | 54.5 | 70.2 | 83.3 | 79.9 |
| Asset turnover | 0.78 | — | 0.72 | 0.71 | 0.73 | 0.75 | 0.74 | 0.67 |
| Return ratios | ||||||||
| Return on assets % | 13.5% | — | 13.9% | 15.5% | 14% | 15.7% | 15.9% | 13.4% |
| Return on capital employed % | 28.3% | — | 26% | 26.2% | 23.4% | 26.1% | 27.7% | 25.3% |
| Return on equity % | 19.8% | — | 18.6% | 20.3% | 18.5% | 20.7% | 20.8% | 17.5% |
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.