Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 95.5% | ||||
| 85.9% |
| 83.6% |
| 82.3% |
| 82.6% |
| EBITDA margin % | 10.8% | 11.6% | 11.2% | 10.6% | 9% | 14.8% | 14.6% | 20.7% |
| EBIT margin % | 10.2% | 10.3% | 10.2% | 9.5% | 8.5% | 13.9% | 13.1% | 19.3% |
| PAT margin % | 7.1% | 8.4% | 8.5% | 9% | 26.3% | 11.1% | 9.9% | 10.9% |
| Working capital | ||||||||
| Receivable days | 57 | 38 | — | 36 | 18 | 54 | 26 | 51 |
| Inventory days | 0 | 0 | — | 275 | 45 | 121 | 94 | 101 |
| Payable days | — | — | — | 2,339 | 382 | 359 | 487 | 575 |
| NWC days | — | — | — | -2,028 | -319 | -183 | -368 | -422 |
| Leverage | ||||||||
| Current ratio | 1.55 | 1.37 | — | 1.04 | 1.12 | 1.88 | 1.76 | 1.87 |
| Debt to EBITDA | 2.91 | 2.28 | — | 16.88 | 10.16 | 1.77 | 2.86 | 2.64 |
| Debt to equity | 0.39 | 0.3 | — | 1.4 | 1.4 | 0.32 | 0.59 | 0.65 |
| Interest coverage | 4.8 | 3.9 | 2.7 | 2.2 | 3.2 | 5.4 | 4.3 | 4 |
| Asset turnover | 0.62 | 0.58 | — | 0.24 | 0.47 | 0.58 | 0.59 | 0.49 |
| Return ratios | ||||||||
| Return on assets % | 4.4% | 4.8% | — | 2.1% | 12.3% | 6.5% | 5.8% | 5.4% |
| Return on capital employed % | 13.9% | 15% | — | 7.1% | 8.6% | 15.1% | 18.2% | 17.3% |
| Return on equity % | 8.7% | 9.6% | — | 7% | 40.5% | 13.7% | 13.9% | 12.9% |
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.