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 % | — | — | — | — | ||||
| — |
| — |
| — |
| 98.8% |
| EBITDA margin % | 27.3% | 17.6% | 17.5% | 19.1% | 14.5% | 12.6% | 10.8% | 8.8% |
| EBIT margin % | 12.1% | 10.3% | 8.6% | 10.1% | 5.1% | 4.6% | 2.8% | 1.1% |
| PAT margin % | 1.8% | 2.7% | 7.6% | 9% | 4.2% | 3.8% | 2.2% | 0.2% |
| Working capital | ||||||||
| Receivable days | 137 | — | 83 | 55 | 56 | 61 | 65 | 62 |
| Inventory days | 15 | — | 4 | 4 | 6 | 5 | 5 | 337 |
| Payable days | — | — | 142 | 93 | 115 | 99 | 116 | 7,088 |
| NWC days | — | — | -55 | -34 | -54 | -34 | -46 | -6,688 |
| Leverage | ||||||||
| Current ratio | 0.96 | — | 0.74 | 0.66 | 0.56 | 0.51 | 0.52 | 0.56 |
| Debt to EBITDA | 0.96 | — | 0.36 | 0.33 | 0.38 | 0.59 | 0.69 | 0.8 |
| Debt to equity | 0.32 | — | 0.14 | 0.11 | 0.11 | 0.17 | 0.18 | 0.19 |
| Interest coverage | 3.1 | 6.1 | 11.5 | 18.4 | 15.3 | 8 | 4.1 | 1.4 |
| Asset turnover | 0.55 | — | 1.09 | 1 | 0.96 | 1.05 | 1.06 | 1.12 |
| Return ratios | ||||||||
| Return on assets % | 1% | — | 8.3% | 8.9% | 4.1% | 4% | 2.3% | 0.3% |
| Return on capital employed % | 14.5% | — | 25.4% | 22.7% | 13.8% | 13.2% | 9% | 4.3% |
| Return on equity % | 2.2% | — | 17.6% | 16.2% | 8.2% | 8.4% | 5.3% | 0.7% |
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.