Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 23.6% | 18.2% | 22.3% | 22.4% | 20.1% | 21.2% | 20.9% |
| EBITDA margin % | 3% | 3.8% | -2.3% | 1.8% | 2.6% | -0.6% | 0.1% | 0.1% |
| EBIT margin % | 2.8% | 3.6% | -2.4% | 1.7% | 2.6% | -0.6% | 0.1% | 0.1% |
| PAT margin % | -0.7% | -0.3% | 2.3% | 0.5% | 2.2% | 0.3% | 0% | 0% |
| Working capital | ||||||||
| Receivable days | — | — | 182 | 179 | 176 | 179 | 186 | 188 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | 35 | 30 | 40 | 62 | 47 | 48 |
| NWC days | — | — | 147 | 149 | 135 | 117 | 139 | 140 |
| Leverage | ||||||||
| Current ratio | — | — | 2.68 | 17.41 | 10.01 | 8.34 | 9.45 | 9.54 |
| Debt to EBITDA | — | — | — | 15.3 | 9.73 | — | 188.02 | 304.29 |
| Debt to equity | — | — | 0.16 | 0.06 | 0.07 | 0.07 | 0.07 | 0.08 |
| Interest coverage | 0.8 | 4.9 | 122.8 | 13.2 | 36.5 | 4.3 | — | — |
| Asset turnover | — | — | 0.44 | 0.21 | 0.24 | 0.25 | 0.23 | 0.24 |
| Return ratios | ||||||||
| Return on assets % | — | — | 1% | 0.1% | 0.5% | 0.1% | 0% | 0% |
| Return on capital employed % | — | — | 1.7% | 0.3% | 0.9% | 0.1% | 0% | 0% |
| Return on equity % | — | — | 1.3% | 0.1% | 0.6% | 0.1% | 0% | 0% |
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.