Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | ||||
| — |
| — |
| — |
| — |
| EBITDA margin % | -2.8% | 24.2% | 27.4% | 21.9% | 17% | 16.3% | 16.7% | 15% |
| EBIT margin % | -2.8% | 3.6% | 6% | 1.4% | -2.2% | -1.6% | 0.2% | 0.6% |
| PAT margin % | -12% | 5.9% | 14.6% | 7.3% | 3.5% | 5% | 4.5% | 3.8% |
| Working capital | ||||||||
| Receivable days | 28 | 6 | 1 | 11 | 29 | 33 | 45 | 43 |
| Inventory days | 3 | 4 | 2 | 1 | 1 | 0 | 0 | 0 |
| Payable days | 59 | — | 62 | 66 | 81 | 85 | 98 | 92 |
| NWC days | -27 | — | -59 | -54 | -52 | -51 | -53 | -49 |
| Leverage | ||||||||
| Current ratio | 2.84 | 1.37 | 3.13 | 2.33 | 3 | 3.46 | 3.57 | 4.01 |
| Debt to EBITDA | — | 4.49 | 0 | 0 | 0.02 | 0.02 | 0.01 | 0 |
| Debt to equity | 0.42 | 0.52 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 0.1 | 1.4 | 6.6 | — | 309.7 | 101.2 | 79.6 | 113.7 |
| Asset turnover | 0.24 | 0.28 | 0.38 | 0.39 | 0.38 | 0.4 | 0.4 | 0.41 |
| Return ratios | ||||||||
| Return on assets % | -2.9% | 1.7% | 5.6% | 2.8% | 1.4% | 2% | 1.8% | 1.6% |
| Return on capital employed % | 0.5% | 6.9% | 6.3% | 2.5% | 1.4% | 2.5% | 2.6% | 2.4% |
| Return on equity % | -5.2% | 2.8% | 6.3% | 3.2% | 1.6% | 2.3% | 2.1% | 1.8% |
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.