Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 7.2% | — | 22.8% | 9.5% | 4.9% | 19.7% | 16.9% | 18.9% |
| EBITDA margin % | 4.8% | 3.8% | 0.2% | -16.7% | -0.9% | -1.3% | -21% | -22.9% |
| EBIT margin % | 4.5% | -0.6% | -5.3% | -22.3% | -2.2% | -5.3% | -28.1% | -29.9% |
| PAT margin % | 5.4% | 11.4% | 5.1% | -5.1% | 3.1% | 1% | 10.8% | 62.4% |
| Working capital | ||||||||
| Receivable days | — | 3 | 10 | 59 | 40 | 274 | 117 | 116 |
| Inventory days | — | — | 0 | 0 | 0 | 8 | 12 | 0 |
| Payable days | — | — | 68 | 42 | 4 | 189 | 36 | 79 |
| NWC days | — | — | -58 | 17 | 35 | 92 | 92 | 37 |
| Leverage | ||||||||
| Current ratio | — | — | 2.9 | 1.18 | 5.52 | 1.24 | 3.06 | 0.86 |
| Debt to EBITDA | — | — | 125 | — | — | — | — | — |
| Debt to equity | — | — | 0.09 | 0.03 | 0.31 | 0.49 | 0.13 | 0.15 |
| Interest coverage | 8 | 3.5 | 2.9 | -0.3 | 5.3 | 1.1 | 2.7 | 9.3 |
| Asset turnover | — | 0.29 | 0.28 | 0.26 | 0.87 | 0.31 | 0.12 | 0.11 |
| Return ratios | ||||||||
| Return on assets % | — | 3.3% | 1.4% | -1.4% | 2.7% | 0.3% | 1.3% | 6.7% |
| Return on capital employed % | — | — | 4% | -0.3% | 4.9% | 3.4% | 4% | 11.7% |
| Return on equity % | — | 3.9% | 1.7% | -1.5% | 3.7% | 0.5% | 1.5% | 8.2% |
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.