Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 98.4% | — | — | — | 98.8% | 98.8% | — | 98.6% |
| EBITDA margin % | 14.3% | 13.4% | 15.1% | 18% | 18.8% | 20.4% | 21.1% | 19.5% |
| EBIT margin % | 11.4% | 8.4% | 8.5% | 13.1% | 14.5% | 16.3% | 17.2% | 14.8% |
| PAT margin % | 8.6% | 6.8% | 7% | 11.4% | 11.5% | 12.3% | 14.4% | 9.9% |
| Working capital | ||||||||
| Receivable days | 337 | 76 | 55 | 56 | 84 | 72 | 56 | 61 |
| Inventory days | 631 | 2 | 0 | 0 | 530 | 564 | 7 | 354 |
| Payable days | — | — | 29 | 25 | 1,483 | 1,499 | 14 | 1,049 |
| NWC days | — | — | 27 | 31 | -869 | -863 | 48 | -634 |
| Leverage | ||||||||
| Current ratio | 1.92 | 2.23 | 2.46 | 2.14 | 1.29 | 1.33 | 1.57 | 1.03 |
| Debt to EBITDA | 1.06 | 0.07 | 0.01 | 0.01 | 0.08 | 0.05 | 0 | 0.37 |
| Debt to equity | 0.1 | 0.02 | 0 | 0 | 0.03 | 0.02 | 0 | 0.13 |
| Interest coverage | 15.6 | 10.6 | 11 | 18.8 | 16.3 | 15.6 | 27.7 | 14.2 |
| Asset turnover | 0.38 | 1.32 | 1.03 | 1.04 | 0.99 | 1.17 | 1.16 | 0.89 |
| Return ratios | ||||||||
| Return on assets % | 3.3% | 9% | 7.2% | 11.8% | 11.4% | 14.4% | 16.7% | 8.8% |
| Return on capital employed % | 10.5% | 19% | 14.5% | 23.7% | 27.3% | 35% | 39.3% | 26.9% |
| Return on equity % | 5.7% | 14% | 11.7% | 21.1% | 23.4% | 27.9% | 28.8% | 18% |
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.