Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | — | 97.1% | 96.7% | — | 98.5% | ||
| 92.9% |
| 90.5% |
| EBITDA margin % | — | 28.3% | 34.9% | 45.3% | 44.3% | 35.7% | 38.8% |
| EBIT margin % | — | 27.4% | 33.8% | 44.2% | 43.3% | 34.5% | 37.6% |
| PAT margin % | 18.1% | 18% | 23.6% | 30.4% | 28.7% | 22.7% | 22.1% |
| Working capital | |||||||
| Receivable days | — | 2 | 4 | — | — | — | — |
| Inventory days | — | 1,809 | 0 | 1 | 0 | 0 | 0 |
| Payable days | — | 8,996 | 8,526 | — | — | — | — |
| NWC days | — | -7,185 | -8,522 | — | — | — | — |
| Leverage | |||||||
| Current ratio | — | 1.03 | 1.41 | — | — | — | — |
| Debt to EBITDA | — | 0.93 | 0.63 | 0.41 | 0.59 | 0.94 | 1.18 |
| Debt to equity | — | 0.42 | 0.42 | 0.2 | 0.22 | 0.21 | 0.25 |
| Interest coverage | -0.1 | 5.1 | 9.6 | 8.5 | 7.2 | 5.8 | 4.4 |
| Asset turnover | — | 0.52 | 0.6 | 0.59 | 0.52 | 0.38 | 0.32 |
| Return ratios | |||||||
| Return on assets % | — | 9.4% | 14.1% | 18% | 14.8% | 8.7% | 7.1% |
| Return on capital employed % | — | 45.6% | 80.4% | — | — | — | — |
| Return on equity % | — | 28.8% | 45.2% | 32.9% | 24.4% | 14.1% | 12.3% |
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.