Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | — | — | 16.1% | 19.9% | 11.2% |
| EBITDA margin % | 62.6% | 63.8% | 3% | 10.3% | 4% |
| EBIT margin % | 60.2% | 54.1% | 1.2% | 9.8% | 3.2% |
| PAT margin % | 40.3% | 39.4% | 18% | 17.8% | 8.9% |
| Working capital | |||||
| Receivable days | 121 | 174 | 203 | 99 | 174 |
| Inventory days | 0 | 0 | 27 | 18 | 24 |
| Payable days | 42 | 66 | 35 | 3 | 6 |
| NWC days | 80 | 108 | 195 | 114 | 192 |
| Leverage | |||||
| Current ratio | 7.62 | 5.02 | 2.71 | 4.64 | 6.07 |
| Debt to EBITDA | 1.63 | 1.39 | 9.67 | 1.07 | 4.71 |
| Debt to equity | 0.07 | 0.03 | 0.14 | 0.14 | 0.13 |
| Interest coverage | 13 | 3.9 | 51 | 23.2 | 8 |
| Asset turnover | 0.06 | 0.04 | 0.39 | 1.05 | 0.57 |
| Return ratios | |||||
| Return on assets % | 2.4% | 1.4% | 7% | 18.8% | 5% |
| Return on capital employed % | 6% | 2.8% | 13% | 28.8% | 8.2% |
| Return on equity % | 2.7% | 1.5% | 8.7% | 22.8% | 6% |
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.