Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 90.7% | 88.9% | 86.3% | 88.1% | 91.5% | 92% |
| EBITDA margin % | 8.6% | 10.9% | 14.5% | 17.4% | 18.7% | 22.1% |
| EBIT margin % | 6.8% | 9.4% | 12.4% | 15.4% | 16.7% | 20.4% |
| PAT margin % | 1.1% | 4.7% | 14.1% | 13.8% | 15.1% | 20.2% |
| Working capital | ||||||
| Receivable days | — | — | 4 | 4 | 2 | 259 |
| Inventory days | — | — | 53 | 8 | 5 | 6 |
| Payable days | — | — | 403 | 81 | 59 | 1,076 |
| NWC days | — | — | -346 | -69 | -51 | -812 |
| Leverage | ||||||
| Current ratio | — | — | 1.98 | 2.61 | 2.82 | 3.19 |
| Debt to EBITDA | — | — | 1.72 | 0.11 | 0.52 | 0.32 |
| Debt to equity | — | — | 0.28 | 0.02 | 0.1 | 0.07 |
| Interest coverage | 1.2 | 2.3 | 3.5 | 9 | 32.3 | 24 |
| Asset turnover | — | — | 0.7 | 0.78 | 0.72 | 0.71 |
| Return ratios | ||||||
| Return on assets % | — | — | 9.9% | 10.7% | 10.9% | 14.3% |
| Return on capital employed % | — | — | 14.7% | 19.4% | 24.8% | 27.5% |
| Return on equity % | — | — | 15.6% | 15% | 15.4% | 19.8% |
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.