Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | — | — | — | 82.4% |
| EBITDA margin % | 31.1% | 25.2% | 26.7% | 26.5% |
| EBIT margin % | 27.9% | 21.1% | 22.5% | 22.7% |
| PAT margin % | 18.2% | 12.4% | 15.3% | 16.3% |
| Working capital | ||||
| Receivable days | 168 | 151 | 161 | 129 |
| Inventory days | 1 | 1 | 1 | 4 |
| Payable days | — | — | — | 134 |
| NWC days | — | — | — | -2 |
| Leverage | ||||
| Current ratio | 1.57 | 1.79 | 1.86 | 2.06 |
| Debt to EBITDA | 1.43 | 2.04 | 1.67 | 0.51 |
| Debt to equity | 0.81 | 0.72 | 0.58 | 0.11 |
| Interest coverage | 7.3 | 4.1 | 5.8 | 7 |
| Asset turnover | 0.79 | 0.64 | 0.65 | 0.6 |
| Return ratios | ||||
| Return on assets % | 14.3% | 7.9% | 10% | 9.7% |
| Return on capital employed % | 34.3% | 23.7% | 23.4% | 21.4% |
| Return on equity % | 33.2% | 17.2% | 19.9% | 13.5% |
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.