Consolidated figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 74.8% | 75.9% | ||||
| 76.3% |
| — |
| — |
| — |
| EBITDA margin % | 2.4% | 7.4% | 10.2% | 11.8% | 6% | 7.1% | 0.3% | 1.9% |
| EBIT margin % | -1.5% | 4.3% | 7.6% | 9.1% | 3.3% | 5% | -1.4% | 0.6% |
| PAT margin % | 3.8% | 10.8% | 29.7% | 17.1% | 31% | 14.3% | -12.6% | 22.5% |
| Working capital | ||||||||
| Receivable days | 70 | 73 | 83 | 74 | 81 | 74 | — | — |
| Inventory days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 5 | 2 | 19 | 9 | 20 | 0 | 3 | 2 |
| NWC days | 64 | 71 | 64 | 66 | 61 | 74 | — | — |
| Leverage | ||||||||
| Current ratio | 6.49 | 7.41 | 5.64 | 5.7 | 8.3 | 5.17 | 9.4 | 3.79 |
| Debt to EBITDA | — | — | 0 | 0 | 0 | 1.2 | — | — |
| Debt to equity | — | — | 0 | 0 | 0 | 0.01 | — | — |
| Interest coverage | 10.7 | 11.1 | 9.9 | 10.5 | 16.2 | 8.6 | 3.6 | 66.5 |
| Asset turnover | 0.11 | 0.12 | 0.13 | 0.12 | 0.1 | 0.14 | 0.15 | 0.18 |
| Return ratios | ||||||||
| Return on assets % | 0.4% | 1.3% | 3.9% | 2% | 3.2% | 2% | -1.9% | 4.2% |
| Return on capital employed % | 2.5% | 2.2% | 3.4% | 3.6% | 5.4% | 2.7% | 1.4% | 3.5% |
| Return on equity % | 0.4% | 1.4% | 4.2% | 2.1% | 3.4% | 2.2% | -2.3% | 4.9% |
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.