Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 91.8% | 86.5% | — | — | — | 94.4% |
| EBITDA margin % | 42.4% | 42.2% | 42.4% | 51.9% | 58.6% | 63.2% | 63.6% | 51% |
| EBIT margin % | 33.2% | 30% | 30.5% | 41.6% | 49.3% | 51% | 55% | 50.9% |
| PAT margin % | 15.8% | 18.1% | 18.1% | 17.5% | 34.5% | 36.7% | 44.5% | 41.9% |
| Working capital | ||||||||
| Receivable days | — | 71 | 91 | 83 | 66 | 102 | 38 | 40 |
| Inventory days | — | 23 | 9 | 0 | 0 | 0 | 14 | 150 |
| Payable days | — | 30 | 249 | 164 | 41 | 39 | 19 | 80 |
| NWC days | — | 64 | -149 | -81 | 25 | 62 | 33 | 110 |
| Leverage | ||||||||
| Current ratio | — | 1.02 | 1.16 | 1.26 | 3.11 | 2.89 | 3.84 | 7.72 |
| Debt to EBITDA | — | 0.97 | 0.57 | 0.19 | 0 | 0 | 0 | — |
| Debt to equity | — | 0.13 | 0.08 | 0.03 | 0 | 0 | 0 | — |
| Interest coverage | 2.3 | 2.6 | 4.2 | 14.6 | 25.9 | 33.3 | 56.8 | 44.6 |
| Asset turnover | — | 0.24 | 0.27 | 0.25 | 0.25 | 0.21 | 0.25 | 0.23 |
| Return ratios | ||||||||
| Return on assets % | — | 4.4% | 4.9% | 4.4% | 8.8% | 7.5% | 11.3% | 9.6% |
| Return on capital employed % | — | 8.6% | 9.4% | 12% | 14.5% | 12.2% | 16.2% | 14.5% |
| Return on equity % | — | 5.9% | 6% | 5% | 10% | 8.5% | 12.7% | 10.9% |
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.