Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 96.3% | — | 99% | — | — | — | — | — |
| EBITDA margin % | 11.6% | 13.6% | 11.4% | 7.5% | 8.5% | 11.9% | 10% | 13.6% |
| EBIT margin % | 7.4% | 6.2% | 6% | 3.6% | 4.4% | 8.2% | 6.4% | 9.7% |
| PAT margin % | 8% | 6.7% | 7.3% | 4% | 5.2% | 8% | 6.4% | 7.7% |
| Working capital | ||||||||
| Receivable days | — | 101 | 60 | 72 | 98 | 74 | 81 | 61 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | 1,634 | 16 | 14 | 19 | 20 | 10 |
| NWC days | — | — | -1,574 | 56 | 84 | 55 | 61 | 52 |
| Leverage | ||||||||
| Current ratio | — | 1.27 | 1.83 | 2.36 | 2.67 | 3.09 | 2.94 | 3.06 |
| Debt to EBITDA | — | 0.44 | 0.04 | 0.03 | 0.02 | 0 | 0 | 0 |
| Debt to equity | — | 0.12 | 0.01 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 7.3 | 4.5 | 9 | 13.9 | 14.1 | 26.9 | 13.2 | 14.8 |
| Asset turnover | — | 1.04 | 1.47 | 1.09 | 1.44 | 1.33 | 1.31 | 1.32 |
| Return ratios | ||||||||
| Return on assets % | — | 7% | 10.8% | 4.3% | 7.5% | 10.6% | 8.4% | 10.2% |
| Return on capital employed % | — | 19.2% | 23.7% | 11.3% | 14% | 20.3% | 16.3% | 20.6% |
| Return on equity % | — | 13.3% | 17.2% | 6.3% | 10.1% | 14.8% | 12.1% | 15% |
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.