Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | — | 10.9% | 57.2% | 12.2% | 11.8% | 11% |
| EBITDA margin % | 4.1% | 6.9% | 6.9% | 8.2% | 8.1% | 7.7% |
| EBIT margin % | 4.1% | 5.4% | 6.2% | 6.9% | 6.7% | 5.7% |
| PAT margin % | 1.3% | 2.7% | 3.3% | 3.7% | 4% | 3.4% |
| Working capital | ||||||
| Receivable days | — | 123 | 118 | 115 | 115 | 121 |
| Inventory days | — | — | — | 0 | 0 | 0 |
| Payable days | — | — | — | 2 | 1 | 1 |
| NWC days | — | — | — | 114 | 114 | 120 |
| Leverage | ||||||
| Current ratio | — | 1.66 | 1.49 | 1.78 | 1.86 | 1.58 |
| Debt to EBITDA | — | 4.23 | 3.96 | 3.38 | 3.27 | 3.97 |
| Debt to equity | — | 1.39 | 1.39 | 1.4 | 0.95 | 1.18 |
| Interest coverage | 1.6 | 2.7 | 3.1 | 3.1 | 3.9 | 3.5 |
| Asset turnover | — | 1.96 | 2.06 | 2.05 | 1.81 | 1.71 |
| Return ratios | ||||||
| Return on assets % | — | 5.4% | 6.8% | 7.5% | 7.2% | 5.7% |
| Return on capital employed % | — | 26.4% | 33.3% | 33.5% | 26.1% | 20.1% |
| Return on equity % | — | 13.1% | 16.6% | 18.4% | 14.3% | 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.