Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 1.9% | 12.4% | 2.7% | 8.4% | 14.4% | 16.3% | 16.8% | 12% |
| EBIT margin % | -2.2% | 6.6% | -6.6% | 3.1% | 10.5% | 12.2% | 12.4% | 8.1% |
| PAT margin % | -1.8% | -1.9% | -48.9% | 1.7% | -7% | -1.1% | 10.2% | 2.5% |
| Working capital | ||||||||
| Receivable days | 113 | 90 | 80 | 77 | 67 | 75 | 71 | 94 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 25 | 29 | 34 | 29 | 27 | 19 | 27 | 26 |
| NWC days | — | — | 46 | 48 | 40 | 56 | 44 | 68 |
| Leverage | ||||||||
| Current ratio | 0.59 | 0.48 | 0.39 | 0.31 | 0.58 | 1.38 | 1.64 | 0.87 |
| Debt to EBITDA | 17.64 | 2.57 | 14.36 | 2.52 | 7.66 | 4.64 | 3.05 | 4.55 |
| Debt to equity | 0.33 | 0.34 | 0.32 | 0.23 | 2 | 0.73 | 0.52 | 0.62 |
| Interest coverage | -0.2 | 0.9 | -0.2 | 0.7 | 0.9 | 0.9 | 2.1 | 1.8 |
| Asset turnover | 0.4 | 0.41 | 0.28 | 0.39 | 0.5 | 0.49 | 0.58 | 0.58 |
| Return ratios | ||||||||
| Return on assets % | -0.7% | -0.8% | -13.9% | 0.7% | -3.5% | -0.5% | 5.9% | 1.4% |
| Return on capital employed % | -0.9% | 5.4% | -1% | 3.8% | 11.7% | 10.6% | 11.3% | 9.2% |
| Return on equity % | -1.8% | -2% | -39.9% | 1.9% | -12.7% | -1.1% | 10.3% | 2.8% |
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.