Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 41.1% | 37.8% | 8.1% | -1.8% | 20.1% | -103.3% | 18.6% | -3.9% |
| EBIT margin % | 38.7% | 33% | 1.9% | -7.8% | 12.4% | -110.2% | 12% | -9% |
| PAT margin % | 88.4% | 37.8% | 156.1% | 4% | 18.9% | -229.1% | 17.2% | 6.4% |
| Working capital | ||||||||
| Receivable days | 809 | 705 | 745 | 777 | 550 | 74 | 46 | 68 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | 101 | 95 | 134 | 47 | 111 | 77 |
| NWC days | — | — | 643 | 682 | 416 | 28 | -65 | -9 |
| Leverage | ||||||||
| Current ratio | 0.63 | 0.65 | 0.96 | 0.54 | 0.46 | 0.46 | 0.49 | 0.5 |
| Debt to EBITDA | 7.06 | 5.89 | 31.94 | — | 0.88 | — | 0.68 | — |
| Debt to equity | 2.05 | 1.41 | 0.64 | 0.1 | 0.05 | 0.44 | 0.3 | 0.1 |
| Interest coverage | 6.2 | 2.8 | 0.6 | -0.4 | 5.2 | -44.2 | 8.1 | 6.1 |
| Asset turnover | 0.12 | 0.13 | 0.08 | 0.1 | 0.13 | 0.72 | 0.76 | 0.65 |
| Return ratios | ||||||||
| Return on assets % | 10.2% | 5% | 12.7% | 0.4% | 2.4% | -164.6% | 13% | 4.2% |
| Return on capital employed % | 22.1% | 9.7% | 3.4% | -0.3% | 4.8% | -66% | 27.3% | 11.4% |
| Return on equity % | 62.4% | 24% | 39% | 1% | 5.8% | -938.2% | 41.5% | 8.7% |
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.