Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 36.4% | 36% | 30.5% | 24.6% | 22.8% | ||
| 22.2% |
| 21.3% |
| EBITDA margin % | 24.7% | 24.3% | 20.7% | 10.5% | 13.9% | 15% | 14.2% |
| EBIT margin % | 19.9% | 19.7% | 16.9% | 9.5% | 13.4% | 14.6% | 13.7% |
| PAT margin % | 20.4% | 20.4% | 24.6% | 22.5% | 17.9% | 18.6% | 14.6% |
| Working capital | |||||||
| Receivable days | 239 | 218 | 199 | 282 | 180 | 108 | 137 |
| Inventory days | 4 | 4 | 13 | 59 | 8 | 0 | 0 |
| Payable days | — | 235 | 205 | 0 | 173 | 179 | 170 |
| NWC days | — | -13 | 7 | 341 | 15 | -70 | -33 |
| Leverage | |||||||
| Current ratio | — | 3.74 | 4.78 | 41.03 | 4.3 | 4.7 | 4.06 |
| Debt to EBITDA | 0.19 | 0.19 | 0 | 0 | 0 | 0.12 | 0.16 |
| Debt to equity | 0.03 | 0.02 | 0 | 0 | 0 | 0.01 | 0.02 |
| Interest coverage | 36.1 | 30.8 | 58.9 | 14.4 | 20.6 | 46.6 | 30.8 |
| Asset turnover | 0.42 | 0.4 | 0.43 | 0.3 | 0.53 | 0.45 | 0.55 |
| Return ratios | |||||||
| Return on assets % | 8.6% | 8.3% | 10.5% | 6.7% | 9.5% | 8.4% | 8% |
| Return on capital employed % | — | 13.6% | 17.2% | 6.4% | 13.6% | 15.4% | 13.6% |
| Return on equity % | 12% | 11.2% | 14.4% | 9.7% | 12.4% | 11.3% | 11.4% |
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.