Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 1.9% | 0.8% | 10.8% | 15.1% | 10.6% |
| EBITDA margin % | — | — | -6.2% | -5.3% | -3.9% | 3% | 5.3% | 3.3% |
| EBIT margin % | — | — | -6.2% | -5.3% | -3.9% | 2.3% | 4.6% | 2.9% |
| PAT margin % | — | — | 0.5% | 4.3% | 0.4% | -0.6% | 2.9% | 0.2% |
| Working capital | ||||||||
| Receivable days | — | — | — | 57 | 59 | 97 | 129 | 94 |
| Inventory days | — | — | — | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | — | 161 | 57 | 6 | 15 | 10 |
| NWC days | — | — | — | -104 | 2 | 91 | 113 | 84 |
| Leverage | ||||||||
| Current ratio | — | — | — | 2.64 | 4.26 | 2.17 | 2.4 | 1.96 |
| Debt to EBITDA | — | — | — | — | — | 12.2 | 5.47 | 7.68 |
| Debt to equity | — | — | — | 0 | 0 | 1.4 | 0.89 | 1.04 |
| Interest coverage | — | — | — | — | — | 0.8 | 1.7 | 1.1 |
| Asset turnover | — | — | — | 0.1 | 0.21 | 1.49 | 1.46 | 1.86 |
| Return ratios | ||||||||
| Return on assets % | — | — | — | 0.4% | 0.1% | -0.9% | 4.2% | 0.4% |
| Return on capital employed % | — | — | — | 0.6% | 0.2% | 7.3% | 16.8% | 9.4% |
| Return on equity % | — | — | — | 0.5% | 0.1% | -2.4% | 8.8% | 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.