Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 16.5% | 20.9% | 31.2% | 30.3% | 15.8% | 6.1% | 2% | 11.5% |
| EBIT margin % | 15.1% | 18.5% | 28.9% | 28.7% | 14.1% | 4.2% | -0.5% | 9.5% |
| PAT margin % | 22.7% | 19.8% | 23.6% | 33.3% | 28% | 25.2% | 10.9% | 12.1% |
| Working capital | ||||||||
| Receivable days | 65 | — | 55 | 67 | 63 | 56 | 76 | 85 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | 16 | 21 | 12 | 10 | 12 | 8 |
| NWC days | — | — | 39 | 46 | 51 | 46 | 64 | 77 |
| Leverage | ||||||||
| Current ratio | 3.08 | — | 2.53 | 1.58 | 2.23 | 1.2 | 3.47 | 2.4 |
| Debt to EBITDA | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt to equity | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | — | 187.7 | 311.9 | 3,126 | 877.4 | 317.5 | 32.9 | 48.5 |
| Asset turnover | 0.53 | — | 0.6 | 0.51 | 0.43 | 0.38 | 0.49 | 0.55 |
| Return ratios | ||||||||
| Return on assets % | 12% | — | 14% | 16.8% | 12.1% | 9.5% | 5.3% | 6.7% |
| Return on capital employed % | 17.3% | — | 25.5% | 25.2% | 16.4% | 13.1% | 7.5% | 10.6% |
| Return on equity % | 13.4% | — | 16.3% | 19.5% | 13.7% | 10.9% | 6.2% | 8% |
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.