28. Additional capital disclosures
The key objective of the Company’s capital management is to ensure that it maintains a stable capital structure with the focus on total equity to uphold investor, creditor, and customer confidence and to ensure future development of its business. The Company focuses on keeping a strong total equity base to ensure independence, security, as well as a high financial flexibility for potential future borrowings, if required, without impacting the risk profile of the Company.
The capital structure as at March 31, 2018 and 2017 was as follows:
| As at March 31, | ||||||||||||
| 2018 | 2017 | % Change |
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Total equity attributable to the equity shareholders of the Company |
$ | 494,956 | $ | 415,066 | 19 | % | ||||||
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As percentage of total capital |
85 | % | 78 | % | ||||||||
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Long term debt(1) |
89,900 | 118,000 | (24 | )% | ||||||||
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Total debt |
$ | 89,900 | $ | 118,000 | (24 | )% | ||||||
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As percentage of total capital |
15 | % | 22 | % | ||||||||
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Total capital (debt and equity) |
$ | 584,856 | $ | 533,066 | 10 | % | ||||||
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Note:
| (1) | Before netting off debt issuance cost of $769 and $1,257 as at March 31, 2018 and March 31, 2017, respectively. |
The Company is predominantly equity-financed. This is also evident from the fact that debt represents 15% and 22% of total capital as at March 31, 2018 and 2017, respectively.