Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 82.5% | — | — | — | ||||
| — |
| — |
| — |
| — |
| EBITDA margin % | 15.2% | 23.7% | 21% | 11.2% | 9.2% | 8% | 7.6% | 4.4% |
| EBIT margin % | 8.1% | 9.6% | 9.9% | 6.4% | 6% | 5.8% | 5.8% | 3.4% |
| PAT margin % | 10.9% | 16.7% | 10.4% | 6.5% | 6.9% | 4.9% | 5.9% | 3.6% |
| Working capital | ||||||||
| Receivable days | 8 | — | 39 | 23 | 12 | 15 | 8 | 5 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 1 | — | 15 | 12 | 3 | 3 | 3 | 1 |
| NWC days | — | — | 25 | 10 | 9 | 12 | 5 | 4 |
| Leverage | ||||||||
| Current ratio | 1.31 | — | 1.45 | 1.37 | 1.6 | 1.39 | 1.59 | 2.01 |
| Debt to EBITDA | 0.23 | — | 0.14 | 0 | 0 | 0.28 | 0.5 | 1.12 |
| Debt to equity | 0.01 | — | 0.01 | 0 | 0 | 0.02 | 0.04 | 0.08 |
| Interest coverage | 16.3 | 17.1 | 21 | 47.8 | 97.3 | 89.4 | 37 | 19.7 |
| Asset turnover | 0.37 | — | 0.19 | 0.34 | 0.48 | 0.61 | 0.74 | 1.11 |
| Return ratios | ||||||||
| Return on assets % | 4% | — | 2% | 2.2% | 3.3% | 3% | 4.4% | 4% |
| Return on capital employed % | 3.8% | — | 2.6% | 3.1% | 5.9% | 6% | 7.7% | 7.5% |
| Return on equity % | 4.6% | — | 2.4% | 2.8% | 4.3% | 4.5% | 6.3% | 6.2% |
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.