Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 98.7% | 93% | — | — | — | — |
| EBITDA margin % | 5.3% | -143% | -2% | 8.5% | 25.4% | 38.3% |
| EBIT margin % | 0.1% | -146.9% | -5.9% | 4.2% | 21.4% | 34.7% |
| PAT margin % | 85.6% | -117% | 20.8% | 22.6% | 31.3% | 37.5% |
| Working capital | ||||||
| Receivable days | 120 | 62 | 84 | 97 | 98 | 90 |
| Inventory days | 461 | 51 | 0 | 0 | 0 | 0 |
| Payable days | 3,437 | 391 | 19 | 16 | 18 | 21 |
| NWC days | -2,855 | -278 | 64 | 81 | 80 | 69 |
| Leverage | ||||||
| Current ratio | 23.05 | 29.7 | 35.24 | 19.28 | 16.27 | 19.93 |
| Debt to EBITDA | 0 | — | — | 0 | 0 | 0 |
| Debt to equity | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 73.3 | -225.8 | 78.3 | 100.2 | 125.5 | 171.2 |
| Asset turnover | 0.06 | 0.06 | 0.08 | 0.09 | 0.11 | 0.13 |
| Return ratios | ||||||
| Return on assets % | 4.7% | -7.4% | 1.6% | 2% | 3.4% | 4.9% |
| Return on capital employed % | 1.2% | -8.4% | 2.4% | 2.7% | 4.3% | 6.6% |
| Return on equity % | 4.8% | -7.5% | 1.6% | 2% | 3.5% | 5% |
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.