Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 22.8% | 27.3% | 31.9% | 29.7% | 25.5% | 23.8% | 21.9% | 23.7% |
| EBIT margin % | 6.2% | 10.3% | 16.2% | 15.8% | 11.7% | 10.8% | 8.4% | 9.5% |
| PAT margin % | -8.2% | 3.6% | 15.5% | 17.7% | 9.2% | 8% | 14.4% | 10.8% |
| Working capital | ||||||||
| Receivable days | — | — | 64 | 61 | 59 | 56 | 60 | 68 |
| Inventory days | — | — | 2 | 1 | 8 | 2 | 3 | 0 |
| Payable days | — | — | 132 | 104 | 95 | 77 | 93 | 88 |
| NWC days | — | — | -66 | -41 | -28 | -19 | -30 | -20 |
| Leverage | ||||||||
| Current ratio | — | — | 0.84 | 0.99 | 0.64 | 0.43 | 0.54 | 0.57 |
| Debt to EBITDA | — | — | 0.29 | 0.28 | 0.29 | 1.43 | 2.01 | 2.72 |
| Debt to equity | — | — | 0.06 | 0.05 | 0.05 | 0.27 | 0.31 | 0.45 |
| Interest coverage | 11.8 | 14 | 12 | 18 | 15 | 8.3 | 3.7 | 3.9 |
| Asset turnover | — | — | 0.44 | 0.45 | 0.47 | 0.45 | 0.39 | 0.35 |
| Return ratios | ||||||||
| Return on assets % | — | — | 6.8% | 7.9% | 4.4% | 3.6% | 5.6% | 3.7% |
| Return on capital employed % | — | — | 12% | 14.5% | 12% | 10.8% | 6.7% | 9.8% |
| Return on equity % | — | — | 10.6% | 11.9% | 6.8% | 6.5% | 10.1% | 7.5% |
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.