Standalone figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | — | — | — | — |
| EBITDA margin % | 8.2% | 19.9% | ||
| 29% |
| 24.7% |
| EBIT margin % | 6.4% | 18.5% | 27.3% | 22.8% |
| PAT margin % | 2.8% | 11.8% | 12% | 20.6% |
| Working capital | ||||
| Receivable days | 24 | 35 | 19 | 51 |
| Inventory days | — | — | — | 0 |
| Payable days | — | — | — | 35 |
| NWC days | — | — | — | 16 |
| Leverage | ||||
| Current ratio | 1.66 | 1.86 | 1.56 | 1.34 |
| Debt to EBITDA | 0.96 | 1.13 | 1.5 | 0 |
| Debt to equity | 0.14 | 0.47 | 0.58 | 0 |
| Interest coverage | 1.4 | 4.9 | 2.3 | 61.2 |
| Asset turnover | 0.77 | 0.93 | 0.5 | 0.62 |
| Return ratios | ||||
| Return on assets % | 2.2% | 11% | 5.9% | 12.7% |
| Return on capital employed % | 12.7% | 40.9% | 32.7% | 17% |
| Return on equity % | 4.9% | 24.7% | 16.1% | 14.9% |
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.