Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | — | — | 10.7% | 13.5% | 18.3% | — |
| EBITDA margin % | 8.4% | 7.8% | 7.8% | 10.7% | 13.9% | 2.2% |
| EBIT margin % | 4.9% | 4.7% | 6.3% | 8.7% | 10.7% | -1.2% |
| PAT margin % | 3% | 3.1% | 4.5% | 6.4% | 9.2% | -0.1% |
| Working capital | ||||||
| Receivable days | 25 | — | 31 | 41 | 65 | 39 |
| Inventory days | 1 | — | 3 | 1 | 2 | 2 |
| Payable days | 34 | — | 51 | 27 | 30 | — |
| NWC days | -8 | — | -17 | 16 | 37 | — |
| Leverage | ||||||
| Current ratio | 0.9 | — | 1.18 | 2.19 | 2.46 | 2 |
| Debt to EBITDA | 1.35 | — | 0.5 | 3 | 1.27 | 4.39 |
| Debt to equity | 0.87 | — | 0.34 | 1.46 | 0.28 | 0.14 |
| Interest coverage | 4.6 | 5.2 | 17.6 | 6.5 | 7.1 | 1.2 |
| Asset turnover | 2.75 | — | 3.18 | 1.59 | 1.13 | 1.16 |
| Return ratios | ||||||
| Return on assets % | 8.3% | — | 14.4% | 10.2% | 10.4% | -0.1% |
| Return on capital employed % | 21.8% | — | 40.5% | 28.8% | 17% | 1.3% |
| Return on equity % | 23% | — | 39.5% | 29.3% | 14.6% | -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.