Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | — | 91.8% | 97.3% | — | — | — | 94.4% |
| EBITDA margin % | 42.3% | 42.4% | 51.9% | 58.6% | 63.2% | 63.6% | 51% |
| EBIT margin % | 30% | 30.5% | 41.6% | 49.3% | 51% | 54.9% | 50.9% |
| PAT margin % | 18.1% | 18% | 17.5% | 34.5% | 36.7% | 44.5% | 41.9% |
| Working capital | |||||||
| Receivable days | 71 | 91 | 83 | 66 | 102 | 38 | 40 |
| Inventory days | 23 | 9 | 0 | 0 | 0 | 14 | 150 |
| Payable days | 30 | 249 | 821 | 41 | 39 | 19 | 80 |
| NWC days | 64 | -149 | -738 | 25 | 62 | 33 | 110 |
| Leverage | |||||||
| Current ratio | 1.02 | 1.16 | 1.26 | 3.11 | 2.89 | 3.84 | 7.72 |
| Debt to EBITDA | 0.97 | 0.57 | 0.19 | 0 | 0 | 0 | — |
| Debt to equity | 0.13 | 0.08 | 0.03 | 0 | 0 | 0 | — |
| Interest coverage | 2.6 | 4.2 | 14.6 | 25.9 | 33.3 | 56.8 | 44.6 |
| Asset turnover | 0.24 | 0.27 | 0.25 | 0.25 | 0.21 | 0.25 | 0.23 |
| Return ratios | |||||||
| Return on assets % | 4.4% | 4.9% | 4.4% | 8.8% | 7.6% | 11.3% | 9.6% |
| Return on capital employed % | 8.6% | 9.4% | 12% | 14.5% | 12.2% | 16.2% | 14.5% |
| Return on equity % | 5.9% | 5.9% | 5% | 10% | 8.5% | 12.7% | 10.9% |
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.