Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 6.6% | 26.7% | 23.6% | 27% | -10% | 14.2% | 14.6% | 15.9% |
| EBIT margin % | 0.8% | 6% | 13.9% | 20.3% | -26.2% | 9.5% | 11.4% | 12.6% |
| PAT margin % | 1% | 7.3% | 15.4% | 24.7% | -26.7% | 9.4% | 8.8% | 9.1% |
| Working capital | ||||||||
| Receivable days | — | — | 153 | 74 | 218 | 154 | 174 | 171 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | 136 | 57 | 43 | 90 | 123 | 146 |
| NWC days | — | — | 17 | 18 | 175 | 64 | 51 | 25 |
| Leverage | ||||||||
| Current ratio | — | — | 1.41 | 3.2 | 2.47 | 2.23 | 2.09 | 2.34 |
| Debt to EBITDA | — | — | 0.07 | 0.11 | — | 0.49 | 0.35 | 0.8 |
| Debt to equity | — | — | 0.02 | 0.03 | 0.1 | 0.08 | 0.06 | 0.14 |
| Interest coverage | 1.5 | 4.8 | 41.1 | 80.8 | -10 | 18.9 | 18.4 | 11 |
| Asset turnover | — | — | 0.57 | 0.94 | 0.44 | 0.81 | 0.8 | 0.7 |
| Return ratios | ||||||||
| Return on assets % | — | — | 8.8% | 23.1% | -11.6% | 7.6% | 7.1% | 6.4% |
| Return on capital employed % | — | — | 19.1% | 33.6% | -11.7% | 14% | 16.8% | 15.9% |
| Return on equity % | — | — | 13.5% | 28.3% | -15.1% | 10.4% | 10.3% | 10% |
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.