Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 6.9% | 8.6% | 9.2% | 23.5% | 11% | 22.1% | 18.4% | 19% |
| EBIT margin % | 5.9% | 8.6% | 7.2% | 21.3% | 7.4% | 18.1% | 18.4% | 19% |
| PAT margin % | 2.1% | 2.2% | 4.7% | 14.4% | 4.1% | 9.9% | 11.9% | 8.9% |
| Working capital | ||||||||
| Receivable days | — | 116 | 80 | 84 | 95 | 87 | 46 | 56 |
| Inventory days | — | 0 | 0 | 0 | 0 | 0 | — | — |
| Payable days | — | 278 | 441 | 517 | 320 | 609 | 0 | 1 |
| NWC days | — | -162 | -361 | -432 | -225 | -522 | — | — |
| Leverage | ||||||||
| Current ratio | — | 1.15 | 1.13 | 1.2 | 1.55 | 1.37 | — | — |
| Debt to EBITDA | — | 2.39 | 1.32 | 0.42 | 0.86 | 0.38 | 2.22 | 3.23 |
| Debt to equity | — | 0.38 | 0.23 | 0.16 | 0.11 | 0.1 | 0.5 | 0.65 |
| Interest coverage | 1.1 | 1.5 | 5.6 | 8.5 | 2.7 | 3.5 | 3.3 | 2.5 |
| Asset turnover | — | 0.51 | 0.43 | 0.44 | 0.46 | 0.38 | 0.29 | 0.36 |
| Return ratios | ||||||||
| Return on assets % | — | 1.1% | 2% | 6.3% | 1.9% | 3.8% | 3.5% | 3.2% |
| Return on capital employed % | — | 16.3% | 15% | 38.3% | 10.2% | 21.6% | — | — |
| Return on equity % | — | 4% | 9% | 23.4% | 4.9% | 12.1% | 14.5% | 9.4% |
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.