Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 90.4% | 82.2% | 74.5% | 78.1% | 84% | 81.1% | 95% | 120.6% |
| EBIT margin % | 90.2% | 81.7% | 73.9% | 77.4% | 83.2% | 80.2% | 93.9% | 119.1% |
| PAT margin % | 13.8% | 8.1% | 2.3% | 13.6% | 22.2% | 21.1% | 34.3% | 62.1% |
| Working capital | ||||||||
| Receivable days | — | — | — | — | — | — | — | — |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | — |
| Payable days | — | — | — | — | — | — | — | — |
| NWC days | — | — | — | — | — | — | — | — |
| Leverage | ||||||||
| Current ratio | — | — | — | — | — | — | — | — |
| Debt to EBITDA | — | 8.27 | 10.9 | 9.57 | 7.71 | 6.33 | 4.76 | 2.85 |
| Debt to equity | — | — | 4.33 | 3.14 | 2.1 | 1.54 | 1.04 | 0.57 |
| Interest coverage | 1.3 | 1.2 | 1.1 | 1.3 | 1.5 | 1.5 | 1.9 | 2.7 |
| Asset turnover | — | — | 0.1 | 0.1 | 0.1 | 0.12 | 0.11 | 0.1 |
| Return ratios | ||||||||
| Return on assets % | — | — | 0.2% | 1.4% | 2.3% | 2.5% | 3.8% | 6.4% |
| Return on capital employed % | — | — | — | — | — | — | — | — |
| Return on equity % | — | — | 1.2% | 5.7% | 7.2% | 6.3% | 7.9% | 10.4% |
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.