Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | ||||
| — |
| — |
| — |
| — |
| EBITDA margin % | 90.1% | 79.7% | 83.6% | 84.3% | 81.9% | 89.5% | 92.7% | 94.8% |
| EBIT margin % | 90.1% | 78.9% | 82.8% | 83.4% | 81.1% | 88.7% | 92% | 94% |
| PAT margin % | 14.5% | 8.1% | 12.2% | 13.4% | 16.3% | 21.8% | 25.5% | 27.4% |
| Working capital | ||||||||
| Receivable days | — | 0 | 1 | — | — | — | — | — |
| Inventory days | — | — | — | — | 0 | 0 | 0 | 0 |
| Payable days | 65 | 18 | 8 | — | — | — | — | — |
| NWC days | — | — | — | — | — | — | — | — |
| Leverage | ||||||||
| Current ratio | — | — | — | — | — | — | — | — |
| Debt to EBITDA | 10.66 | 10.02 | 9.39 | 10.23 | 10.09 | 8.77 | 8.81 | 8.82 |
| Debt to equity | 9.66 | 8.52 | 6.7 | 5.4 | 4.9 | 3.68 | 3.7 | 3.7 |
| Interest coverage | 1.3 | 1.1 | 1.2 | 1.3 | 1.4 | 1.5 | 1.5 | 1.6 |
| Asset turnover | 0.09 | 0.11 | 0.11 | 0.09 | 0.1 | 0.1 | 0.09 | 0.09 |
| Return ratios | ||||||||
| Return on assets % | 1.3% | 0.9% | 1.3% | 1.3% | 1.6% | 2.1% | 2.4% | 2.5% |
| Return on capital employed % | — | — | — | — | — | — | — | — |
| Return on equity % | 14.5% | 8.6% | 10.4% | 8.4% | 9.6% | 10.2% | 11.6% | 12.1% |
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.