Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 88.6% | 89.3% | 86.5% | 85.1% | 82.3% | 85.5% |
| EBITDA margin % | 26.4% | 26.6% | 29.6% | 27.1% | 23.4% | 24.2% |
| EBIT margin % | 13.1% | 13.3% | 13.6% | 10.1% | 6.2% | 7% |
| PAT margin % | 6.5% | 8.1% | 5.5% | 4.2% | 1.4% | 4% |
| Working capital | ||||||
| Receivable days | 293 | 185 | 146 | 212 | 167 | 95 |
| Inventory days | 0 | 0 | 0 | 0 | 27 | 55 |
| Payable days | 645 | 544 | 242 | 319 | 450 | 259 |
| NWC days | -352 | -359 | -96 | -106 | -256 | -108 |
| Leverage | ||||||
| Current ratio | 2.96 | 2.78 | 2.26 | 1.86 | 2.14 | 1.96 |
| Debt to EBITDA | 2.93 | 2.09 | 2.07 | 1.47 | 1.55 | 0.99 |
| Debt to equity | 0.46 | 0.38 | 0.39 | 0.25 | 0.2 | 0.18 |
| Interest coverage | 2.7 | 3.3 | 2.6 | 2.2 | 1.7 | 3.2 |
| Asset turnover | 0.35 | 0.43 | 0.4 | 0.4 | 0.38 | 0.52 |
| Return ratios | ||||||
| Return on assets % | 2.2% | 3.5% | 2.2% | 1.7% | 0.5% | 2.1% |
| Return on capital employed % | 6.9% | 9.6% | 9.2% | 7.9% | 5.1% | 7.1% |
| Return on equity % | 3.8% | 5.5% | 3.5% | 2.7% | 0.8% | 3.1% |
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.