Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | — | 65.2% | 66.2% | 58.8% |
| EBITDA margin % | 24.4% | 28.2% | ||
| 8.4% |
| 11.3% |
| EBIT margin % | 20.6% | 24.8% | 4.5% | 7% |
| PAT margin % | 15% | 16.4% | 11.3% | 12.5% |
| Working capital | ||||
| Receivable days | 454 | 223 | 353 | 223 |
| Inventory days | 0 | 0 | 0 | 0 |
| Payable days | 614 | 486 | 749 | 406 |
| NWC days | -160 | -262 | -395 | -183 |
| Leverage | ||||
| Current ratio | 0.8 | 1.92 | 2.02 | 2.26 |
| Debt to EBITDA | 1.18 | 0.7 | 2.54 | 1.15 |
| Debt to equity | 0.65 | 0.13 | 0.1 | 0.07 |
| Interest coverage | 6.3 | 5.7 | 6.3 | 8.4 |
| Asset turnover | 0.44 | 0.41 | 0.31 | 0.4 |
| Return ratios | ||||
| Return on assets % | 6.6% | 6.7% | 3.6% | 5% |
| Return on capital employed % | 49.5% | 27% | 7.9% | 10.5% |
| Return on equity % | 33.8% | 10.7% | 5.4% | 7.2% |
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.