Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 35.9% | 36.4% | 36% | 30.5% | 24.2% | 21.3% | 20.2% | 19.8% |
| EBITDA margin % | 25.2% | 24.7% | 24.3% | 20.7% | 12.3% | 13.5% | 13.7% | 13.8% |
| EBIT margin % | 21% | 19.9% | 19.7% | 16.9% | 11.5% | 13.1% | 13.3% | 13.5% |
| PAT margin % | 18.4% | 20.2% | 22.5% | 24.2% | 22.6% | 16.1% | 17.8% | 16.7% |
| Working capital | ||||||||
| Receivable days | 201 | 239 | 218 | 199 | 242 | 161 | 105 | 139 |
| Inventory days | 11 | 4 | 4 | 13 | 43 | 7 | 0 | 0 |
| Payable days | — | — | 235 | 205 | 274 | 152 | 164 | 159 |
| NWC days | — | — | -13 | 7 | 11 | 16 | -59 | -20 |
| Leverage | ||||||||
| Current ratio | — | — | 3.66 | 4.71 | 4.56 | 4.63 | 4.96 | 3.89 |
| Debt to EBITDA | 0.08 | 0.19 | 0.19 | 0 | 0 | 0 | 0 | 0.05 |
| Debt to equity | 0.01 | 0.03 | 0.02 | 0 | 0 | 0 | 0 | 0.01 |
| Interest coverage | 21.7 | 36.3 | 32.9 | 59.4 | 17.4 | 21.4 | 48.8 | 13.7 |
| Asset turnover | 0.5 | 0.43 | 0.4 | 0.43 | 0.35 | 0.59 | 0.43 | 0.54 |
| Return ratios | ||||||||
| Return on assets % | 9.1% | 8.6% | 9.1% | 10.4% | 7.8% | 9.4% | 7.7% | 9% |
| Return on capital employed % | 15.7% | — | 14.6% | 17.2% | 8.6% | 15.6% | 14.2% | 13.4% |
| Return on equity % | 12.9% | 12% | 12.4% | 14.2% | 11.2% | 12.3% | 11.4% | 12.9% |
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.