Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 67.6% | 63.7% | 55% | 60.8% | 60.7% | 64.8% | 59.6% | 56.7% |
| EBIT margin % | 66.7% | 60.4% | 50.3% | 57.4% | 57% | 61.4% | 55.5% | 53.8% |
| PAT margin % | 65.9% | 52.2% | 2.1% | 38.2% | 41.1% | 49.8% | 48.4% | 51.1% |
| Working capital | ||||||||
| Receivable days | 37 | 35 | — | 19 | 33 | 27 | 28 | 37 |
| Inventory days | — | — | — | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | — | 26 | 25 | 17 | 18 | 13 |
| NWC days | — | — | — | -7 | 7 | 9 | 10 | 24 |
| Leverage | ||||||||
| Current ratio | 1 | 0.91 | — | 0.37 | 1.02 | 3.16 | 2.41 | 1.52 |
| Debt to EBITDA | 0.18 | 0.33 | — | 1.28 | 0.78 | 0 | 0.71 | 0.33 |
| Debt to equity | 0.03 | 0.04 | — | 0.14 | 0.1 | 0 | 0.1 | 0.05 |
| Interest coverage | 38.4 | 27.3 | 10.9 | 12.1 | 12 | 20.1 | 48.2 | 19 |
| Asset turnover | 0.25 | 0.19 | — | 0.15 | 0.19 | 0.25 | 0.2 | 0.24 |
| Return ratios | ||||||||
| Return on assets % | 16.6% | 10.1% | — | 5.7% | 7.9% | 12.3% | 9.8% | 12.1% |
| Return on capital employed % | 21.2% | 12.8% | — | 12.6% | 11.7% | 16% | 13% | 14.1% |
| Return on equity % | 17.7% | 11.1% | — | 6.7% | 9% | 12.6% | 11.1% | 13% |
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.