Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 6.6% | 9% | — | — | — | 10.5% |
| EBITDA margin % | 2.3% | 1.4% | 3.9% | 5.3% | 7.4% | 7.4% | 7.9% | 4.6% |
| EBIT margin % | 2.3% | 0.7% | 3.2% | 4.7% | 6.6% | 6.9% | 4.9% | 2.2% |
| PAT margin % | 4.8% | 4.3% | 3.1% | 3.6% | 6.1% | 5.2% | 3.6% | 4.6% |
| Working capital | ||||||||
| Receivable days | — | — | 130 | 80 | 183 | 121 | 8 | 1 |
| Inventory days | — | — | 0 | 19 | 1 | 4 | 8 | 18 |
| Payable days | — | — | 98 | 62 | — | — | — | 39 |
| NWC days | — | — | 32 | 36 | — | — | — | -20 |
| Leverage | ||||||||
| Current ratio | — | — | 3.33 | 4.95 | 3.28 | 4.06 | 14.32 | 9.49 |
| Debt to EBITDA | — | — | 0 | 0 | 0.04 | 0.03 | 1.17 | 1.47 |
| Debt to equity | — | — | 0 | 0 | 0 | 0 | 0.02 | 0.01 |
| Interest coverage | — | 25 | 25 | 31 | — | — | — | 10.5 |
| Asset turnover | — | — | 0.36 | 0.39 | 0.21 | 0.24 | 0.19 | 0.2 |
| Return ratios | ||||||||
| Return on assets % | — | — | 1.1% | 1.4% | 1.3% | 1.3% | 0.7% | 0.9% |
| Return on capital employed % | — | — | 1.6% | 2% | 2.1% | 1.8% | 1.3% | 1.3% |
| Return on equity % | — | — | 1.2% | 1.5% | 1.5% | 1.4% | 0.7% | 0.9% |
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.