Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | — | 4.5% | 4.1% | 5% | 6.2% | 6.5% | 5.9% | 6.2% |
| EBIT margin % | — | 2.5% | 1.3% | 1.4% | 2.4% | 2.5% | 2% | 1.9% |
| PAT margin % | 2.3% | 1.7% | 0.8% | 0.7% | 1.5% | 1.4% | 0.9% | 0.8% |
| Working capital | ||||||||
| Receivable days | 48 | 53 | 50 | 41 | 37 | 41 | 34 | 33 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | — | — | 78 | 80 | 74 | 62 |
| NWC days | — | — | — | — | -41 | -39 | -40 | -30 |
| Leverage | ||||||||
| Current ratio | — | — | — | 1.16 | 1.04 | 0.96 | 0.94 | 1.1 |
| Debt to EBITDA | — | — | — | 0.84 | 0.54 | 0.28 | 0.5 | 0 |
| Debt to equity | — | — | — | 0.26 | 0.24 | 0.12 | 0.21 | 0 |
| Interest coverage | -46.4 | 6.6 | 3.1 | 2.3 | 2.9 | 2.9 | 2.1 | 2.1 |
| Asset turnover | 3.27 | 2.45 | 1.87 | 1.96 | 2.06 | 2.13 | 2.16 | 1.87 |
| Return ratios | ||||||||
| Return on assets % | 7.5% | 4.1% | 1.5% | 1.3% | 3% | 2.9% | 1.9% | 1.4% |
| Return on capital employed % | — | — | — | 6.9% | 13.1% | 13.3% | 10.7% | 8% |
| Return on equity % | 17.5% | 10.1% | 4.2% | 4.3% | 10.3% | 9.2% | 6.2% | 2.9% |
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.