Standalone figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | — | 18.8% | 25.8% | 23.2% | 24.8% | ||
| 29.4% |
| 29.7% |
| EBITDA margin % | 3.5% | 8.1% | 4.5% | 6.9% | 11.2% | 14.5% | 10.9% |
| EBIT margin % | 1.9% | 5.3% | 0% | 4.1% | 8.6% | 12.7% | 9.1% |
| PAT margin % | 1.9% | 5.9% | 8.3% | 16.8% | 18.9% | 15.7% | 17.5% |
| Working capital | |||||||
| Receivable days | — | — | 122 | 109 | 140 | 111 | 114 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | 100 | 92 | 108 | 230 | 81 |
| NWC days | — | — | 22 | 17 | 32 | -120 | 34 |
| Leverage | |||||||
| Current ratio | — | — | 13.64 | 8.81 | 5.71 | 3.18 | 7.28 |
| Debt to EBITDA | — | — | 0 | 0 | 0 | 0 | 0 |
| Debt to equity | — | — | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 9.4 | 17.6 | 21 | 54.4 | 75.9 | 120.8 | 125.8 |
| Asset turnover | — | — | 0.25 | 0.42 | 0.49 | 0.5 | 0.51 |
| Return ratios | |||||||
| Return on assets % | — | — | 2.1% | 7.1% | 9.2% | 7.9% | 9% |
| Return on capital employed % | — | — | 3.3% | 9.8% | 13.5% | 16.3% | 13.9% |
| Return on equity % | — | — | 2.3% | 8% | 10.6% | 10.4% | 10.2% |
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.