Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | ||||
Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | ||||
| — |
| — |
| — |
| — |
| EBITDA margin % | 7.7% | 11.2% | 17.6% | 13.7% | 11.6% | 7.5% | -0.6% | 0.3% |
| EBIT margin % | -6.7% | -2.7% | 4.8% | 6% | 4.7% | 0.4% | -7.9% | -6.2% |
| PAT margin % | -21.7% | 7.2% | 19.8% | 16.4% | 25.5% | 17% | 11.9% | 12.3% |
| Working capital | ||||||||
| Receivable days | 119 | 97 | 82 | 57 | 61 | 55 | 77 | 54 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | 149 | 110 | 118 | 124 | 138 | 134 |
| NWC days | — | — | -67 | -53 | -57 | -69 | -61 | -80 |
| Leverage | ||||||||
| Current ratio | 3.25 | 3.27 | 4.67 | 6.21 | 6.31 | 6.93 | 6.9 | 7.48 |
| Debt to EBITDA | 4.21 | 1.61 | 0 | 0 | 0 | 0 | — | 0 |
| Debt to equity | 0.12 | 0.08 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | -0.2 | 5 | 76.4 | 204.8 | 125.4 | 84.3 | 77.7 | 87.9 |
| Asset turnover | 0.25 | 0.32 | 0.34 | 0.32 | 0.28 | 0.25 | 0.23 | 0.23 |
| Return ratios | ||||||||
| Return on assets % | -5.5% | 2.3% | 6.8% | 5.2% | 7.2% | 4.3% | 2.8% | 2.8% |
| Return on capital employed % | -0.6% | 5.1% | 8.4% | 6.1% | 5.2% | 5.8% | 4.3% | 4.3% |
| Return on equity % | -8.3% | 3.2% | 8.3% | 6% | 8.2% | 4.9% | 3.1% | 3.2% |
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.