Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 32% | 41.7% | 45.1% | 49.4% | 51.2% | 52.2% | 53.9% | 56.7% |
| EBIT margin % | 5.5% | 10% | 15.9% | 21% | 25% | 25.8% | 27.5% | 31.7% |
| PAT margin % | 2.1% | -35% | -12.3% | 7.1% | 8.8% | 5.7% | 21.7% | 16% |
| Working capital | ||||||||
| Receivable days | 19 | 19 | 13 | 13 | 10 | 12 | 16 | 14 |
| Inventory days | 1 | 1 | 2 | 2 | 1 | 2 | 2 | 2 |
| Payable days | 175 | 174 | 184 | 181 | 177 | 179 | 174 | 180 |
| NWC days | -155 | -154 | -169 | -166 | -165 | -166 | -157 | -164 |
| Leverage | ||||||||
| Current ratio | 0.35 | 0.58 | 0.49 | 0.46 | 0.47 | 0.42 | 0.37 | 0.52 |
| Debt to EBITDA | 4.67 | 3.22 | 2.86 | 2.31 | 2.32 | 1.94 | 1.59 | 1.02 |
| Debt to equity | 1.69 | 1.52 | 2.2 | 2 | 2.13 | 1.85 | 1.3 | 0.82 |
| Interest coverage | 0.5 | 0.7 | 1.1 | 1.5 | 1.9 | 1.8 | 2.3 | 3.2 |
| Asset turnover | 0.29 | 0.24 | 0.29 | 0.32 | 0.31 | 0.34 | 0.34 | 0.38 |
| Return ratios | ||||||||
| Return on assets % | 0.6% | -8.5% | -3.6% | 2.3% | 2.8% | 1.9% | 7.3% | 6.1% |
| Return on capital employed % | 2.7% | 4.4% | 7.2% | 10.3% | 12.5% | 12.7% | 15.4% | 19.6% |
| Return on equity % | 2.4% | -39.7% | -21% | 12.5% | 15.8% | 10.4% | 33% | 22.7% |
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.