Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | — | — | — | — | — | — |
| EBITDA margin % | 22.2% | 12.3% | 13.3% | 15% | 15.1% | 8% |
| EBIT margin % | 10.6% | 3% | 6.4% | 10.4% | 13.3% | 6.3% |
| PAT margin % | 8.8% | 1.2% | 5.5% | 8.6% | 10.5% | 97.7% |
| Working capital | ||||||
| Receivable days | 89 | 97 | 127 | 79 | 88 | 75 |
| Inventory days | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 10 | 12 | 7 | 11 | 10 | 9 |
| NWC days | 78 | 85 | 121 | 69 | 77 | 66 |
| Leverage | ||||||
| Current ratio | 1.38 | 1.62 | 1.77 | 2.2 | 2.57 | 3.68 |
| Debt to EBITDA | 0.5 | 0.94 | 0.61 | 0.37 | 0.19 | 0.1 |
| Debt to equity | 0.2 | 0.21 | 0.16 | 0.12 | 0.04 | 0 |
| Interest coverage | 3.5 | 2.2 | 5.7 | 9.7 | 24.5 | 33.1 |
| Asset turnover | 0.92 | 0.94 | 0.98 | 1.27 | 0.98 | 0.5 |
| Return ratios | ||||||
| Return on assets % | 8.1% | 1.1% | 5.3% | 10.9% | 10.2% | 48.4% |
| Return on capital employed % | 17.5% | 6.7% | 14.6% | 23.6% | 27.1% | 11.8% |
| Return on equity % | 15.9% | 2.2% | 10.7% | 19.1% | 16.1% | 60% |
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.