Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 25.5% | 19.4% | 20.7% | 21.9% | 17.5% | 14.9% | 12.4% | 10.9% |
| EBIT margin % | 9.3% | 9.7% | 10.1% | 11.4% | 5.5% | 4.4% | 1.8% | 0.8% |
| PAT margin % | 2% | 3.7% | 8.5% | 9.1% | 4.7% | 3.5% | 1.4% | 0.3% |
| Working capital | ||||||||
| Receivable days | 84 | — | 61 | 43 | 40 | 50 | 62 | 54 |
| Inventory days | 10 | — | 3 | 3 | 7 | 3 | 3 | 3 |
| Payable days | — | — | 105 | 87 | 100 | 95 | 114 | 88 |
| NWC days | — | — | -42 | -41 | -53 | -43 | -49 | -31 |
| Leverage | ||||||||
| Current ratio | 0.62 | — | 0.56 | 0.56 | 0.48 | 0.46 | 0.52 | 0.5 |
| Debt to EBITDA | 0.87 | — | 0.31 | 0.23 | 0.3 | 0.48 | 0.53 | 0.56 |
| Debt to equity | 0.42 | — | 0.18 | 0.12 | 0.13 | 0.2 | 0.2 | 0.2 |
| Interest coverage | 3.1 | 6 | 13.5 | 22 | 19.9 | 7.6 | 3.2 | 1.5 |
| Asset turnover | 0.61 | — | 1.05 | 1.02 | 0.98 | 1.05 | 1.06 | 1.14 |
| Return ratios | ||||||||
| Return on assets % | 1.2% | — | 8.9% | 9.3% | 4.6% | 3.7% | 1.5% | 0.4% |
| Return on capital employed % | 15.9% | — | 29.7% | 27.6% | 15.2% | 12.3% | 6.2% | 3.5% |
| Return on equity % | 3.7% | — | 23.9% | 21.2% | 11.3% | 9.6% | 4.2% | 1.1% |
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.