Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 59.8% | 40.5% | 51.7% | 36.1% |
| EBITDA margin % | 46.9% | 26.6% | 30.7% | 12.8% |
| EBIT margin % | 46.8% | 26.1% | 29.7% | 11.8% |
| PAT margin % | 5% | 18.3% | 41.1% | 20% |
| Working capital | ||||
| Receivable days | 31 | 36 | 77 | 36 |
| Inventory days | 0 | 0 | 1 | 1 |
| Payable days | 0 | 0 | 0 | 19 |
| NWC days | 31 | 36 | 77 | 18 |
| Leverage | ||||
| Current ratio | 0.72 | 12.37 | 1.35 | 4.37 |
| Debt to EBITDA | 3.63 | 2.96 | 0.17 | 0.92 |
| Debt to equity | 0.38 | 0.08 | 0.01 | 0.02 |
| Interest coverage | 1.8 | 4.2 | 17.9 | 148.1 |
| Asset turnover | 0.15 | 0.09 | 0.15 | 0.19 |
| Return ratios | ||||
| Return on assets % | 0.7% | 1.6% | 6.1% | 3.7% |
| Return on capital employed % | 7.4% | 5% | 9.2% | 5.6% |
| Return on equity % | 1.1% | 1.8% | 6.5% | 4.1% |
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.