Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 6.7% | 4% | 23.3% | 16.7% | 20.4% | 6.4% | 7.6% | 9.5% |
| EBIT margin % | 1.7% | -2.4% | 14.1% | 13% | 19% | 4.8% | 6.1% | 8.5% |
| PAT margin % | 3.7% | 0.2% | -20% | 25% | 20.7% | 15.1% | 12.3% | 7.1% |
| Working capital | ||||||||
| Receivable days | 145 | 158 | 325 | 138 | 52 | 59 | 62 | 76 |
| Inventory days | 3 | 3 | 7 | 2 | 1 | 1 | 0 | 0 |
| Payable days | 39 | 34 | 106 | 52 | 145 | 21 | 18 | 61 |
| NWC days | 108 | 127 | 226 | 89 | -93 | 38 | 44 | 15 |
| Leverage | ||||||||
| Current ratio | 3.64 | 1.85 | 2.91 | 2.5 | 1.49 | 4.18 | 3.87 | 2.52 |
| Debt to EBITDA | 1.93 | 3.19 | 0 | 0.25 | 0 | 0 | 0 | 0 |
| Debt to equity | 0.08 | 0.45 | 0 | 0.03 | 0 | 0 | 0 | 0 |
| Interest coverage | 78.7 | 0.6 | 12.1 | 45.9 | 908.1 | 51.8 | 174.6 | 59.6 |
| Asset turnover | 0.54 | 0.56 | 0.26 | 0.55 | 0.69 | 0.69 | 0.69 | 0.87 |
| Return ratios | ||||||||
| Return on assets % | 2% | 0.1% | -5.2% | 13.8% | 14.2% | 10.4% | 8.5% | 6.1% |
| Return on capital employed % | 3% | 0.4% | 6.5% | 13.5% | 26.4% | 14.8% | 15.1% | 13% |
| Return on equity % | 2.3% | 0.5% | -6.1% | 17% | 21.6% | 12.2% | 10.3% | 7.9% |
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.