Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 90.7% | 88.6% | 86.7% | 73.3% | 85.8% | 90% | 91.5% | 89.3% |
| EBIT margin % | 90.3% | 87.7% | 85.8% | 72.3% | 84.6% | 88.8% | 89.8% | 87.3% |
| PAT margin % | 19.7% | 20.8% | 20.9% | 14.9% | 23.1% | 25.9% | 26.1% | 25.2% |
| Working capital | ||||||||
| Receivable days | — | — | 0 | 0 | — | — | — | — |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | 0 | 2 | — | — | — | — |
| NWC days | — | — | 0 | -2 | — | — | — | — |
| Leverage | ||||||||
| Current ratio | — | — | 1.2 | 1.22 | — | — | — | — |
| Debt to EBITDA | 8.67 | 8.48 | 8.56 | 10.25 | 9.01 | 7.8 | 7.22 | 7.61 |
| Debt to equity | 6.12 | 5.66 | 4.95 | 4.34 | 3.94 | 3.7 | 3.36 | 3.13 |
| Interest coverage | 1.5 | 1.4 | 1.5 | 1.4 | 1.6 | 1.6 | 1.6 | 1.6 |
| Asset turnover | 0.11 | 0.11 | 0.11 | 0.11 | 0.1 | 0.11 | 0.12 | 0.11 |
| Return ratios | ||||||||
| Return on assets % | 2.1% | 2.3% | 2.3% | 1.6% | 2.4% | 2.9% | 3% | 2.8% |
| Return on capital employed % | — | — | 56.5% | 43.3% | — | — | — | — |
| Return on equity % | 15.4% | 15.7% | 14% | 8.6% | 11.8% | 13.6% | 13.3% | 11.6% |
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.