Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 12.6% | 15.6% | 16.7% | 20.4% | ||||
| 12.7% |
| 13.8% |
| 11.3% |
| 19.9% |
| EBITDA margin % | 6.1% | 7.8% | 10.7% | 13% | 10.7% | 10.9% | 8.9% | 17.2% |
| EBIT margin % | 5.9% | 7.6% | 9.9% | 11.8% | 10.3% | 10.2% | 8.5% | 16.4% |
| PAT margin % | 6.9% | 5% | 6.5% | 10.2% | 7.1% | 7.4% | 7.8% | 12.1% |
| Working capital | ||||||||
| Receivable days | — | 40 | 54 | 96 | 55 | 81 | 101 | 132 |
| Inventory days | — | 2 | 4 | 8 | 3 | 2 | 1 | 2 |
| Payable days | — | 27 | 70 | 80 | 49 | 16 | 28 | 75 |
| NWC days | — | 15 | -12 | 24 | 8 | 67 | 74 | 60 |
| Leverage | ||||||||
| Current ratio | — | — | 1.32 | 1.67 | 1.59 | 2.87 | 3.91 | 2.47 |
| Debt to EBITDA | — | 0.04 | 0 | 0.26 | 0.47 | 0.65 | 0.45 | 0.45 |
| Debt to equity | — | 0.02 | 0 | 0.08 | 0.26 | 0.2 | 0.08 | 0.1 |
| Interest coverage | 97.2 | 60.2 | 7.5 | 6 | 9.1 | 6 | 14.7 | 12.1 |
| Asset turnover | — | 4.79 | 1.85 | 1.17 | 2.17 | 1.83 | 1.45 | 0.84 |
| Return ratios | ||||||||
| Return on assets % | — | 24% | 12% | 11.9% | 15.4% | 13.5% | 11.3% | 10.1% |
| Return on capital employed % | — | — | 31.5% | 24.6% | 52.3% | 31.8% | 26.9% | 24.3% |
| Return on equity % | — | 43.7% | 29.3% | 24.7% | 36.9% | 21.4% | 15.2% | 15.6% |
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.