Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 92.8% | 92.2% | 87.5% | 88.9% | 92.1% | — | 84.7% |
| EBITDA margin % | 27.4% | 23.2% | 30% | 18.8% | 14.1% | 7.6% | 7.8% | 13.2% |
| EBIT margin % | 26.7% | 20.8% | 27.5% | 16.5% | 12.1% | 5.3% | 5.6% | 10.9% |
| PAT margin % | 20.8% | 24.1% | 22.9% | 31% | 23.9% | 37.8% | 21.6% | 20.4% |
| Working capital | ||||||||
| Receivable days | 127 | 96 | 89 | 78 | 122 | 200 | 245 | 240 |
| Inventory days | — | — | 0 | 1 | 0 | 0 | 0 | 0 |
| Payable days | 0 | 1 | 560 | 388 | 387 | 417 | 26 | 310 |
| NWC days | — | — | -471 | -309 | -266 | -217 | 219 | -71 |
| Leverage | ||||||||
| Current ratio | 5.02 | 2.06 | 2.98 | 3.27 | 2.65 | 3.33 | 4.69 | 2.08 |
| Debt to EBITDA | — | — | 0 | 0 | 0 | 0 | 0 | 0.48 |
| Debt to equity | — | — | 0 | 0 | 0 | 0 | 0 | 0.11 |
| Interest coverage | 2,987 | 25.7 | 26.7 | 32.9 | 39 | 78.2 | 51.1 | 35.8 |
| Asset turnover | 1.26 | 1.34 | 1 | 0.94 | 1.15 | 1 | 0.97 | 0.98 |
| Return ratios | ||||||||
| Return on assets % | 26.2% | 32.4% | 22.9% | 29.3% | 27.5% | 37.7% | 20.9% | 20% |
| Return on capital employed % | 45.5% | 56% | 50% | 47.4% | 44.8% | 57.9% | 30% | 44.7% |
| Return on equity % | 32.3% | 56.6% | 33.8% | 41.1% | 39.8% | 50.8% | 26.6% | 34.2% |
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.