Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 97.2% | 96.7% | — | — | 94% | — | — |
| EBITDA margin % | 53.5% | 55.5% | 50.6% | 61.2% | 51.5% | 60.8% | 62.1% |
| EBIT margin % | 50.8% | 52.8% | 48.3% | 58.8% | 49.2% | 58.6% | 58.5% |
| PAT margin % | 13.4% | 22.9% | 31.2% | 33.3% | 32.1% | 30.8% | 27.9% |
| Working capital | |||||||
| Receivable days | 59 | 51 | 53 | — | — | — | — |
| Inventory days | — | — | — | 0 | 0 | 0 | 0 |
| Payable days | — | — | — | — | — | — | — |
| NWC days | — | — | — | — | — | — | — |
| Leverage | |||||||
| Current ratio | — | — | — | — | — | — | — |
| Debt to EBITDA | 10.98 | 5.27 | 6.21 | 5.59 | 7.29 | 5.54 | 5.71 |
| Debt to equity | 2.95 | 1.67 | 1.92 | 2.16 | 2.73 | 1.57 | 1.57 |
| Interest coverage | 1.6 | 2.2 | 3 | 3.1 | 2.6 | 2.6 | 2.4 |
| Asset turnover | 0.12 | 0.18 | 0.17 | 0.18 | 0.17 | 0.17 | 0.16 |
| Return ratios | |||||||
| Return on assets % | 1.5% | 4.2% | 5.4% | 5.9% | 5.3% | 5.1% | 4.5% |
| Return on capital employed % | — | — | — | — | — | — | — |
| Return on equity % | 6.7% | 13.1% | 19.1% | 21.1% | 23.3% | 14.4% | 12.4% |
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.