Standalone figures
| Ratio | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 95.4% | 90.1% | 88.5% | 90.5% | 94.5% | 99.2% | 97.4% | 99% |
| EBIT margin % | 95.4% | 90% | 88.4% | 90.4% | 94.4% | 99.1% | 97.3% | 99% |
| PAT margin % | 22.3% | 17% | 22.4% | 26% | 29.3% | 31.2% | 32.7% | 34.3% |
| Working capital | ||||||||
| Receivable days | — | — | — | — | — | — | — | — |
| Inventory days | — | — | — | — | 0 | — | 0 | — |
| Payable days | — | — | — | — | — | — | — | — |
| NWC days | — | — | — | — | — | — | — | — |
| Leverage | ||||||||
| Current ratio | — | — | — | — | — | — | — | — |
| Debt to EBITDA | 8.37 | 10.33 | 9.97 | 9.39 | 9.89 | — | 9.2 | 8.59 |
| Debt to equity | 5.93 | 6.87 | 6.36 | 5.52 | 5.43 | — | 5.23 | 4.85 |
| Interest coverage | 1.5 | 1.4 | 1.4 | 1.5 | 1.6 | 1.6 | 1.7 | 1.7 |
| Asset turnover | 0.1 | 0.09 | 0.1 | 0.1 | 0.09 | 0.09 | 0.09 | 0.09 |
| Return ratios | ||||||||
| Return on assets % | 2.3% | 1.6% | 2.2% | 2.5% | 2.6% | 2.8% | 3% | 3.2% |
| Return on capital employed % | — | — | — | — | — | — | — | — |
| Return on equity % | 16.5% | 12.5% | 16.1% | 16.9% | 17% | 18.1% | 19.1% | 19.6% |
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.