Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 98.4% | — | — | — | — | — | — | — |
| EBITDA margin % | 28.4% | 28.5% | 29.7% | 28.8% | 26.8% | 27.6% | 27% | 28.2% |
| EBIT margin % | 27% | 26.4% | 27.4% | 26.6% | 24.7% | 25.7% | 25% | 26.2% |
| PAT margin % | 24.4% | 25.3% | 22.8% | 23.8% | 20.5% | 21.5% | 22.4% | 22.2% |
| Working capital | ||||||||
| Receivable days | 71 | 80 | 82 | 82 | 82 | 83 | 88 | 94 |
| Inventory days | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | 30 | 32 | 36 | 36 | 41 | 42 |
| NWC days | — | — | 52 | 50 | 46 | 47 | 47 | 53 |
| Leverage | ||||||||
| Current ratio | 4.18 | 3.3 | 2.92 | 2.49 | 2.36 | 2.2 | 2.1 | 2.01 |
| Debt to EBITDA | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt to equity | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 240.4 | 57.5 | 79.4 | 103.3 | 75.4 | 88 | 90.1 | 60.5 |
| Asset turnover | 1.24 | 1.25 | 1.24 | 1.32 | 1.59 | 1.67 | 1.62 | 1.48 |
| Return ratios | ||||||||
| Return on assets % | 30.2% | 31.7% | 28.3% | 31.5% | 32.6% | 36% | 36.2% | 32.9% |
| Return on capital employed % | 51.9% | 52.9% | 52.7% | 61.1% | 63.9% | 74.7% | 78.4% | 76.4% |
| Return on equity % | 38.1% | 44.7% | 41.4% | 49.5% | 52.5% | 60.4% | 63.6% | 58% |
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.