Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | — | — | — | — | — | — |
| EBITDA margin % | 8.2% | 10.1% | 9.8% | 8.7% | 8.2% | 6.2% |
| EBIT margin % | 4.8% | 7.5% | 7% | 5.7% | 4.3% | 3.4% |
| PAT margin % | 3.2% | 5.1% | 4.9% | 3.8% | 2.1% | 4.8% |
| Working capital | ||||||
| Receivable days | 103 | 87 | 137 | 88 | 86 | 60 |
| Inventory days | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 0 | 11 | 11 | 23 | 15 | 12 |
| NWC days | 103 | 76 | 127 | 66 | 71 | 48 |
| Leverage | ||||||
| Current ratio | 3.58 | 4.44 | 2.65 | 1.84 | 1.62 | 1.89 |
| Debt to EBITDA | 0.36 | 0.15 | 1.19 | 1.27 | 1.94 | 0.57 |
| Debt to equity | 0.06 | 0.03 | 0.24 | 0.27 | 0.44 | 0.11 |
| Interest coverage | 4.3 | 6.8 | 11.4 | 3.6 | 3 | 8.7 |
| Asset turnover | 1.26 | 1.51 | 1.28 | 1.27 | 1.51 | 1.75 |
| Return ratios | ||||||
| Return on assets % | 4% | 7.6% | 6.3% | 4.8% | 3.2% | 8.4% |
| Return on capital employed % | 9.6% | 17% | 15.2% | 15% | 13.3% | 12.1% |
| Return on equity % | 6.1% | 10% | 10.2% | 9.4% | 5.8% | 14.5% |
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.