Standalone figures
| Ratio | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | — | — | — | — | — |
| EBITDA margin % | |||||
| 9.4% |
| 14.2% |
| 20.8% |
| 24.9% |
| 23.3% |
| EBIT margin % | 8.7% | 13.2% | 17.9% | 22% | 21% |
| PAT margin % | 11.3% | 10.9% | 15.2% | 17.4% | 18% |
| Working capital | |||||
| Receivable days | 105 | 102 | 111 | 32 | 0 |
| Inventory days | 0 | 0 | 0 | 0 | 0 |
| Payable days | 3 | 12 | 0 | 6 | 4 |
| NWC days | 102 | 90 | 111 | 26 | -4 |
| Leverage | |||||
| Current ratio | 4.12 | 2.35 | 3.62 | 2.25 | 1.98 |
| Debt to EBITDA | 0.41 | 1.53 | 0.67 | 0.46 | 0.22 |
| Debt to equity | 0.04 | 0.3 | 0.24 | 0.17 | 0.07 |
| Interest coverage | — | 283 | 18.7 | 19 | 27.2 |
| Asset turnover | 0.85 | 0.92 | 1.12 | 1.07 | 1.1 |
| Return ratios | |||||
| Return on assets % | 9.6% | 10% | 17% | 18.7% | 19.8% |
| Return on capital employed % | 13.5% | 20.6% | 31.1% | 33.5% | 36.1% |
| Return on equity % | 11% | 15.2% | 25.6% | 25.9% | 24.7% |
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.