Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 62.7% | 56.9% | 67% | 65.3% | 53.3% | 46% | 55.4% | 36.3% |
| EBIT margin % | 56.6% | 48.4% | 58.5% | 59.8% | 49.3% | 42.3% | 53.4% | 31.8% |
| PAT margin % | 12.6% | 22.5% | 27.5% | 21.6% | 17.7% | 10.9% | 34.1% | 18.4% |
| Working capital | ||||||||
| Receivable days | — | — | 23 | 19 | 79 | 41 | 22 | 36 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | 45 | 34 | 38 | 16 | 30 | 42 |
| NWC days | — | — | -22 | -14 | 41 | 26 | -9 | -6 |
| Leverage | ||||||||
| Current ratio | — | — | 2.39 | 15.02 | 8.7 | 3.72 | 47.18 | 103.79 |
| Debt to EBITDA | — | — | 6.06 | 3.74 | 5.79 | 6.05 | 0.98 | 1.32 |
| Debt to equity | — | — | 0.17 | 0.09 | 0.13 | 0.11 | 0.03 | 0.01 |
| Interest coverage | 1.3 | 2.9 | 2.7 | 2.1 | 1.7 | 1.5 | 6.3 | 4.3 |
| Asset turnover | — | — | 0.04 | 0.03 | 0.04 | 0.04 | 0.05 | 0.03 |
| Return ratios | ||||||||
| Return on assets % | — | — | 1% | 0.7% | 0.7% | 0.4% | 1.6% | 0.5% |
| Return on capital employed % | — | — | 2.3% | 2.5% | 1.9% | 1.6% | 3.1% | 1.2% |
| Return on equity % | — | — | 1.1% | 0.8% | 0.8% | 0.4% | 1.7% | 0.5% |
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.