Consolidated figures
| Ratio | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | — | 16.5% | 12.1% | 11.6% | 11.2% |
| EBITDA margin % | 8% | 12.8% | 8.3% | 6.9% | 0.4% |
| EBIT margin % | 7.2% | 12.3% | 8% | 6.6% | -0.1% |
| PAT margin % | 5.8% | 9.4% | 6.1% | 5% | 1.8% |
| Working capital | |||||
| Receivable days | 117 | 95 | 85 | 83 | 74 |
| Inventory days | 0 | 0 | 0 | 0 | 0 |
| Payable days | 100 | 79 | 60 | 53 | 22 |
| NWC days | 17 | 17 | 26 | 31 | 53 |
| Leverage | |||||
| Current ratio | 1.65 | 1.93 | 2.3 | 2.54 | 6.98 |
| Debt to EBITDA | 0.06 | 0.01 | 0 | 0 | 1 |
| Debt to equity | 0.02 | 0.01 | 0 | 0 | 0.01 |
| Interest coverage | 14.9 | 76.5 | 80 | 26 | 7.5 |
| Asset turnover | 1.67 | 2.39 | 2.71 | 2.59 | 1.72 |
| Return ratios | |||||
| Return on assets % | 9.6% | 22.5% | 16.4% | 13% | 3% |
| Return on capital employed % | 24% | 76.6% | 45.4% | 33.3% | 5.6% |
| Return on equity % | 19.8% | 46.3% | 29% | 21.6% | 3.7% |
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.