Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | 90.9% | 78% |
| EBITDA margin % | 6.9% | 2.1% | 15.4% | 12.3% | 12.7% | 1.7% | 15.7% | 19.9% |
| EBIT margin % | 5.7% | -0.6% | 14.5% | 11% | 11% | -0.7% | 13.1% | 17.7% |
| PAT margin % | 9.2% | 1.3% | 11.2% | 9.3% | 11.2% | 3% | 11% | 13.3% |
| Working capital | ||||||||
| Receivable days | — | — | — | 116 | 161 | 181 | 218 | 111 |
| Inventory days | — | — | — | 0 | 0 | 0 | 149 | 221 |
| Payable days | — | — | — | 21 | 10 | 0 | 266 | 116 |
| NWC days | — | — | — | 95 | 151 | 181 | 101 | 216 |
| Leverage | ||||||||
| Current ratio | — | — | — | 1.83 | 2.21 | 4.65 | 2.74 | 3.03 |
| Debt to EBITDA | — | — | — | 1.9 | 2.65 | 19.68 | 1.84 | 1.12 |
| Debt to equity | — | — | — | 0.46 | 0.55 | 0.25 | 0.37 | 0.32 |
| Interest coverage | 15.2 | 3.4 | 10.5 | 6.9 | 6.7 | 1.8 | 4.6 | 12.6 |
| Asset turnover | — | — | — | 1.14 | 0.95 | 0.56 | 0.82 | 0.91 |
| Return ratios | ||||||||
| Return on assets % | — | — | — | 10.7% | 10.5% | 1.7% | 9% | 12.2% |
| Return on capital employed % | — | — | — | 27.7% | 29.2% | 7.9% | 23.6% | 30.6% |
| Return on equity % | — | — | — | 18.5% | 18.3% | 2.3% | 14.2% | 19% |
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.