Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 70% | 64.8% | 58.9% | 62.1% | 69% | 70.4% | 68.4% | 68% |
| EBIT margin % | 69.2% | 63.6% | 57.7% | 60.8% | 67.8% | 69.2% | 67.1% | 66.8% |
| PAT margin % | 21.6% | 20% | 16.6% | 22.2% | 27.8% | 26.3% | 24.1% | 23.6% |
| Working capital | ||||||||
| Receivable days | 16 | 13 | 15 | 15 | — | — | — | — |
| Inventory days | — | — | — | — | 0 | 0 | 0 | 0 |
| Payable days | 53 | 38 | 37 | 0 | — | — | — | — |
| NWC days | — | — | — | — | — | — | — | — |
| Leverage | ||||||||
| Current ratio | — | — | — | — | — | — | — | — |
| Debt to EBITDA | 7.85 | 7.6 | 8.38 | 8.42 | — | 7.58 | 7.58 | 7.81 |
| Debt to equity | 5.16 | 4.02 | 3.57 | 3.78 | — | 3.82 | 3.74 | 3.82 |
| Interest coverage | 1.9 | 1.8 | 1.6 | 2 | 2.2 | 2 | 1.9 | 1.9 |
| Asset turnover | 0.15 | 0.16 | 0.16 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 |
| Return ratios | ||||||||
| Return on assets % | 3.2% | 3.2% | 2.6% | 3.3% | 4.2% | 3.8% | 3.6% | 3.5% |
| Return on capital employed % | — | — | — | — | — | — | — | — |
| Return on equity % | 20.3% | 16.3% | 12% | 16.1% | 21.2% | 18.8% | 17.4% | 17% |
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.