Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 35.5% | 29.2% | 27.6% | 26.8% | 32.4% | 30.3% | 26.8% |
| EBITDA margin % | 11.3% | 10% | 9% | 8.4% | 8.1% | 8.5% | 6.8% | 6.9% |
| EBIT margin % | 10.9% | 9% | 8% | 7.5% | 7.3% | 6.9% | 5.6% | 6% |
| PAT margin % | 8.4% | 7.4% | 5.8% | 6.8% | 6.1% | 3.6% | 4.2% | 4.3% |
| Working capital | ||||||||
| Receivable days | 100 | 68 | 53 | 61 | 61 | 68 | 63 | 63 |
| Inventory days | — | — | 0 | 0 | 2 | 6 | 2 | 2 |
| Payable days | 82 | 85 | 79 | 96 | 87 | 89 | 80 | 84 |
| NWC days | — | — | -26 | -35 | -24 | -15 | -15 | -19 |
| Leverage | ||||||||
| Current ratio | 1.74 | 1.43 | 1.56 | 1.5 | 1.12 | 0.99 | 1.04 | 1.05 |
| Debt to EBITDA | 0.05 | 0.23 | 0.24 | 0.08 | 0.82 | 0.93 | 0.64 | 0.77 |
| Debt to equity | 0.02 | 0.13 | 0.1 | 0.03 | 0.38 | 0.48 | 0.26 | 0.3 |
| Interest coverage | 103.3 | 26 | 23.9 | 28.7 | 33.2 | 8.5 | 9.8 | 14.4 |
| Asset turnover | 1.94 | 2.32 | 2.17 | 2.17 | 1.71 | 1.67 | 2.14 | 2.1 |
| Return ratios | ||||||||
| Return on assets % | 16.3% | 17.1% | 12.5% | 14.7% | 10.4% | 6% | 8.9% | 9.1% |
| Return on capital employed % | 46.8% | 49.4% | 41% | 45.6% | 35.6% | 33.9% | 30.6% | 32.4% |
| Return on equity % | 32.4% | 41.4% | 26.9% | 34.2% | 34.7% | 21.9% | 24.9% | 24.4% |
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.