Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 13.3% | -1.1% | 38.6% | 43.4% | 34.2% | 60.8% | 66.4% | 70.1% |
| EBIT margin % | 11.7% | -2.7% | 37.6% | 42.6% | 33.4% | 60.1% | 64.1% | 68% |
| PAT margin % | 22.7% | 2.3% | 22.3% | 35.4% | 24% | 46.1% | 44.7% | 48.5% |
| Working capital | ||||||||
| Receivable days | — | 217 | 112 | 110 | 106 | 116 | 103 | 212 |
| Inventory days | — | 18 | 18 | 49 | 51 | 20 | 0 | 0 |
| Payable days | — | 2,164 | 1,798 | 1,934 | 1,240 | 1,080 | 1,133 | 1,667 |
| NWC days | — | -1,929 | -1,669 | -1,775 | -1,082 | -944 | -1,030 | -1,455 |
| Leverage | ||||||||
| Current ratio | — | 0.74 | 1.21 | 1.24 | 1.39 | 1.56 | 2.58 | 2.49 |
| Debt to EBITDA | — | — | 0.05 | 0.25 | 0.02 | 0.86 | 0.19 | 0.23 |
| Debt to equity | — | 0.12 | 0.02 | 0.09 | 0 | 0.41 | 0.05 | 0.06 |
| Interest coverage | 7.2 | 1.6 | 24 | 33.2 | 7.4 | 10.8 | 10 | 23 |
| Asset turnover | 0.6 | 0.12 | 0.23 | 0.22 | 0.24 | 0.31 | 0.26 | 0.23 |
| Return ratios | ||||||||
| Return on assets % | 13.6% | 0.3% | 5.1% | 7.7% | 5.9% | 14.5% | 11.6% | 11.4% |
| Return on capital employed % | — | 7.1% | 36.7% | 50.2% | 29% | 63.2% | 37.8% | 29.3% |
| Return on equity % | — | 1.5% | 19.3% | 30.4% | 16.6% | 36% | 18.7% | 19% |
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.