Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 95.4% | 84.2% | 88.8% | 83.8% |
| EBITDA margin % | 7% | 6.7% | 6.4% | 6.5% |
| EBIT margin % | 6.4% | 6% | 5.7% | 5.6% |
| PAT margin % | 5.4% | 4.8% | 5.2% | 5% |
| Working capital | ||||
| Receivable days | 77 | 83 | 109 | 118 |
| Inventory days | 7 | 1 | 3 | 3 |
| Payable days | 179 | 126 | 138 | 106 |
| NWC days | -95 | -42 | -26 | 15 |
| Leverage | ||||
| Current ratio | 1.3 | 1.91 | 1.86 | 2.01 |
| Debt to EBITDA | 0.96 | 1.21 | 1.08 | 1.33 |
| Debt to equity | 0.29 | 0.22 | 0.19 | 0.22 |
| Interest coverage | 5.1 | 5.8 | 8.5 | 5.7 |
| Asset turnover | 2.06 | 1.59 | 1.59 | 1.52 |
| Return ratios | ||||
| Return on assets % | 11.2% | 7.6% | 8.2% | 7.6% |
| Return on capital employed % | 26.2% | 24.3% | 20.5% | 18.9% |
| Return on equity % | 23.5% | 13.1% | 14.3% | 12.9% |
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.