Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 98.3% | 92% | 97.3% | 98.2% | 90.4% | 96.5% | 98.8% |
| EBITDA margin % | 9.6% | 6.8% | 3.2% | 1.4% | 3.6% | 3.6% | 2.1% | -3.8% |
| EBIT margin % | -0.5% | -1.6% | -0.6% | -2.3% | -0.4% | 0.2% | -0.9% | -8.4% |
| PAT margin % | 0.6% | 0.2% | 0.3% | 0.3% | 0.5% | 0.5% | 52.1% | 0.3% |
| Working capital | ||||||||
| Receivable days | — | — | 93 | 37 | 27 | 127 | 228 | 234 |
| Inventory days | — | — | 8 | 23 | 29 | 0 | 0 | 0 |
| Payable days | — | — | 127 | 716 | 492 | 109 | 69 | 1,081 |
| NWC days | — | — | -25 | -657 | -437 | 18 | 159 | -847 |
| Leverage | ||||||||
| Current ratio | — | — | 1.15 | 1.28 | 1.51 | 1.76 | 4.23 | 4.92 |
| Debt to EBITDA | — | — | 0.57 | 1 | 0.93 | 0.53 | 2 | — |
| Debt to equity | — | — | 0 | 0 | 0.01 | 0 | 0.01 | 0.01 |
| Interest coverage | 1.6 | 1.9 | 1.3 | 1.5 | 8.8 | 4.4 | 138.2 | 1.4 |
| Asset turnover | — | — | 0.15 | 0.16 | 0.19 | 0.21 | 0.2 | 0.18 |
| Return ratios | ||||||||
| Return on assets % | — | — | 0% | 0.1% | 0.1% | 0.1% | 10.6% | 0.1% |
| Return on capital employed % | — | — | 0.6% | 0.3% | 0.5% | 0.7% | 15.9% | 0.6% |
| Return on equity % | — | — | 0% | 0.1% | 0.1% | 0.1% | 11.6% | 0.1% |
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.