Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 95.3% | 95.6% | 96.9% | |||||
| 97.4% |
| 97.3% |
| — |
| 99% |
| — |
| EBITDA margin % | 12.1% | 12.1% | 18.1% | 15.5% | 11.4% | 17.8% | 15.5% | 16.1% |
| EBIT margin % | 9.8% | 8.3% | 13.5% | 11.1% | 7.6% | 15.1% | 13.5% | 14.5% |
| PAT margin % | 8% | 6.5% | 8.1% | 9.9% | 6.8% | 13.6% | 12.3% | 13.6% |
| Working capital | ||||||||
| Receivable days | 81 | 58 | 57 | 69 | 55 | 55 | 55 | 59 |
| Inventory days | 191 | 187 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 584 | 527 | 678 | 1,048 | 765 | 28 | 2,367 | 28 |
| NWC days | -312 | -282 | -621 | -979 | -710 | 26 | -2,312 | 31 |
| Leverage | ||||||||
| Current ratio | 2.04 | 1.98 | 2.7 | 2.74 | 2.7 | 3.04 | 3.76 | 3.52 |
| Debt to EBITDA | 0.54 | 0.57 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt to equity | 0.13 | 0.14 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 12.9 | 7.2 | 10 | 17.3 | 16.9 | 42.9 | 50.6 | 87.5 |
| Asset turnover | 1.28 | 1.16 | 1.1 | 1.11 | 1.18 | 1.05 | 1.02 | 0.93 |
| Return ratios | ||||||||
| Return on assets % | 10.3% | 7.6% | 8.9% | 11% | 7.9% | 14.3% | 12.6% | 12.7% |
| Return on capital employed % | 22.6% | 18.6% | 20.4% | 21.4% | 15% | 25.4% | 21.6% | 23% |
| Return on equity % | 16.6% | 13.2% | 13.1% | 15.7% | 11% | 18.7% | 16% | 16.4% |
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.