Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 79% | 89.7% | — | ||||
Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 79% | 89.7% | — | ||||
| — |
| — |
| — |
| — |
| EBITDA margin % | 7% | 11.6% | 29.4% | 32.2% | 30% | 30.7% | 23.7% | 34.2% |
| EBIT margin % | 6.4% | 10.7% | 28.2% | 30% | 27.2% | 26.2% | 18.7% | 25.9% |
| PAT margin % | 10% | 8.3% | 25.7% | 26.3% | 25.1% | 24.6% | 17.4% | 20.9% |
| Working capital | ||||||||
| Receivable days | 74 | 76 | 72 | 68 | 73 | 72 | 45 | 66 |
| Inventory days | 69 | 312 | 554 | 98 | 116 | 157 | 98 | 137 |
| Payable days | 0 | 193 | 0 | 60 | 50 | 61 | 52 | 89 |
| NWC days | 143 | 195 | 626 | 106 | 140 | 168 | 91 | 114 |
| Leverage | ||||||||
| Current ratio | 1.56 | 1.88 | 1.97 | 5.01 | 4.07 | 4.12 | 2.87 | 1.75 |
| Debt to EBITDA | 1.67 | 0.15 | — | — | 0 | 0.01 | 0 | 0.21 |
| Debt to equity | 0.15 | 0.02 | — | — | 0 | 0 | 0 | 0.04 |
| Interest coverage | 13.9 | 10 | 45 | 46.2 | 44.4 | 84.6 | 48.2 | 54.7 |
| Asset turnover | 0.77 | 0.84 | 0.56 | 0.34 | 0.43 | 0.39 | 0.56 | 0.42 |
| Return ratios | ||||||||
| Return on assets % | 7.7% | 7% | 14.5% | 9% | 10.9% | 9.7% | 9.7% | 8.9% |
| Return on capital employed % | 20.7% | 14.2% | 30.6% | 20.8% | 17.9% | 17.5% | 16.2% | 17.1% |
| Return on equity % | 12.7% | 10.9% | 22.4% | 11.1% | 13.8% | 13.4% | 12.9% | 12.2% |
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.