Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 16.4% | 22.2% | 21.5% | 11.7% | 9.8% | 8.1% | 6.3% | 1.5% |
| EBIT margin % | 7.9% | 9.4% | 9.5% | 6.7% | 6.7% | 6.1% | 4.9% | 1.2% |
| PAT margin % | 7.2% | 6.6% | 8.6% | 6% | 7.6% | 5% | 4.3% | 2% |
| Working capital | ||||||||
| Receivable days | 8 | — | 25 | 14 | 11 | 15 | 9 | 3 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 0 | — | 6 | 7 | 3 | 3 | 3 | 1 |
| NWC days | — | — | 19 | 7 | 8 | 12 | 6 | 2 |
| Leverage | ||||||||
| Current ratio | 1.41 | — | 1.34 | 1.25 | 1.41 | 1.4 | 1.88 | 1.8 |
| Debt to EBITDA | 0.39 | — | 0.16 | 0 | 0 | 0 | 0 | 0 |
| Debt to equity | 0.01 | — | 0.01 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 11.2 | 15.2 | 18 | 46 | 95.5 | 85.3 | 35.4 | 23.9 |
| Asset turnover | 0.18 | — | 0.18 | 0.33 | 0.47 | 0.63 | 0.83 | 1.3 |
| Return ratios | ||||||||
| Return on assets % | 1.3% | — | 1.5% | 2% | 3.5% | 3.1% | 3.6% | 2.6% |
| Return on capital employed % | 2% | — | 2.4% | 3.1% | 6.2% | 6.2% | 6.5% | 3.2% |
| Return on equity % | 1.5% | — | 1.9% | 2.5% | 4.6% | 4.6% | 4.8% | 3.7% |
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.