Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | — | — | — | — | — | — |
| EBITDA margin % | 46.9% | 48.5% | 41.9% | 25.7% | 13.8% | 12.3% |
| EBIT margin % | 38.8% | 38% | 30% | 9.7% | 8.6% | 6.2% |
| PAT margin % | 40.6% | 51.8% | 44.7% | 47.4% | 25.3% | 27.4% |
| Working capital | ||||||
| Receivable days | — | — | — | 90 | 41 | 33 |
| Inventory days | 0 | 0 | — | 0 | 0 | 0 |
| Payable days | — | — | — | 63 | 33 | 13 |
| NWC days | — | — | — | 27 | 7 | 20 |
| Leverage | ||||||
| Current ratio | 5.03 | 0.45 | — | 0.66 | 0.41 | 0.62 |
| Debt to EBITDA | — | — | — | 18.24 | 0.86 | 7.63 |
| Debt to equity | — | — | — | 0.56 | 0.03 | 0.14 |
| Interest coverage | 9.2 | 13 | 9.2 | 7 | 7.8 | 8.4 |
| Asset turnover | 0.19 | 0.14 | — | 0.07 | 0.2 | 0.11 |
| Return ratios | ||||||
| Return on assets % | 7.6% | 7.3% | — | 3.1% | 5.2% | 3.1% |
| Return on capital employed % | 12% | 14.7% | — | 8.8% | 9.9% | 6.5% |
| Return on equity % | — | — | — | 5.7% | 6.6% | 4% |
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.