Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 48.7% | — | — | — | — | 52.5% | — | — |
| EBITDA margin % | 18.4% | 5.4% | -12.4% | -1% | 21.4% | 17.4% | 26.6% | 14.3% |
| EBIT margin % | 4.4% | -4.5% | -21.8% | -12.8% | 8.2% | 7.7% | 6.3% | -5.4% |
| PAT margin % | 8.4% | 7.7% | 16.2% | 48% | 9.1% | 7.4% | 7.8% | 9.9% |
| Working capital | ||||||||
| Receivable days | — | — | 673 | 430 | 200 | 398 | 488 | 351 |
| Inventory days | — | — | 3 | 2 | 1 | 2 | 0 | 0 |
| Payable days | — | — | 7 | 7 | 10 | 18 | 11 | 6 |
| NWC days | — | — | 669 | 425 | 191 | 382 | 477 | 346 |
| Leverage | ||||||||
| Current ratio | — | — | 16.67 | 6.13 | 5.26 | 2.48 | 3.87 | 2.08 |
| Debt to EBITDA | — | — | — | — | 0.09 | 3.49 | 3.82 | 11.46 |
| Debt to equity | — | — | 0.02 | 0.04 | 0.01 | 0.27 | 0.21 | 0.34 |
| Interest coverage | 4.2 | 2.8 | 7.5 | 39.1 | 16.8 | 4 | 1.9 | 1.2 |
| Asset turnover | — | — | 0.11 | 0.17 | 0.31 | 0.32 | 0.16 | 0.15 |
| Return ratios | ||||||||
| Return on assets % | — | — | 1.8% | 8% | 2.8% | 2.4% | 1.2% | 1.5% |
| Return on capital employed % | — | — | 3% | 13% | 4.6% | 5.8% | 4.5% | 2.1% |
| Return on equity % | — | — | 2% | 9.4% | 3.4% | 3.4% | 1.6% | 2.1% |
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.