Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 22.4% | -4.1% | 13% | 11.3% | 4.8% | 7.3% | 17.8% | 7.9% |
| EBIT margin % | 18% | -10.6% | 7.7% | 7.1% | 0.1% | 3.7% | 14.6% | 4.5% |
| PAT margin % | 12.8% | — | 5.7% | 7.6% | 5.7% | 9.7% | 18.7% | 3.4% |
| Working capital | ||||||||
| Receivable days | — | — | 166 | 179 | — | — | — | — |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | 346 | 319 | — | — | — | — |
| NWC days | — | — | -180 | -140 | — | — | — | — |
| Leverage | ||||||||
| Current ratio | — | — | 1.3 | 1.28 | — | — | — | — |
| Debt to EBITDA | — | — | 0 | 0 | 1.96 | 2.48 | 1.41 | 5.17 |
| Debt to equity | — | — | 0 | 0 | 0.12 | 0.26 | 0.33 | 0.46 |
| Interest coverage | 8.5 | -1.8 | 2.9 | 6.6 | 2.8 | 6.6 | 7.8 | 1.9 |
| Asset turnover | — | — | 0.27 | 0.25 | 0.29 | 0.25 | 0.28 | 0.21 |
| Return ratios | ||||||||
| Return on assets % | — | — | 1.5% | 1.9% | 1.6% | 2.5% | 5.2% | 0.7% |
| Return on capital employed % | — | — | 10.2% | 11.5% | — | — | — | — |
| Return on equity % | — | — | 6.1% | 9.2% | 7% | 14.1% | 24.8% | 3.8% |
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.