Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | — | — | — | — | — | — | 54.3% |
| EBITDA margin % | 6.9% | 10.7% | 35.1% | 43.6% | 53.2% | 31.9% | 29.7% |
| EBIT margin % | 6.2% | 9.1% | 31.5% | 37.7% | 46% | 20.2% | 13% |
| PAT margin % | 4.8% | 6.1% | 23.7% | 27.1% | 33.7% | 14.2% | 9.6% |
| Working capital | |||||||
| Receivable days | 81 | — | 47 | 110 | 70 | 80 | 106 |
| Inventory days | 13 | — | 53 | 63 | 108 | 71 | 58 |
| Payable days | — | — | 34 | 41 | 60 | 39 | 172 |
| NWC days | — | — | 66 | 133 | 119 | 111 | -8 |
| Leverage | |||||||
| Current ratio | 2.12 | — | 3.87 | 2.56 | 4.93 | 12.44 | 2.19 |
| Debt to EBITDA | — | — | 0.06 | 0.17 | 0.01 | 0 | 0.2 |
| Debt to equity | — | — | 0.05 | 0.12 | 0 | 0 | 0.02 |
| Interest coverage | 11.5 | 10.6 | 44.2 | 34.2 | 56.8 | 9 | 3.6 |
| Asset turnover | 2.75 | — | 1.68 | 1.19 | 0.67 | 0.25 | 0.27 |
| Return ratios | |||||||
| Return on assets % | 13.3% | — | 39.8% | 32.3% | 22.6% | 3.6% | 2.6% |
| Return on capital employed % | 34.2% | — | 67.5% | 66.7% | 54.8% | 9.2% | 6.4% |
| Return on equity % | 24.5% | — | 56.4% | 44.3% | 25.3% | 4.5% | 3.5% |
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.