Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | ||||
| — |
| — |
| — |
| — |
| EBITDA margin % | 14.1% | 12.8% | 30.9% | 37.4% | 18.8% | 13.8% | 14.6% | -8.6% |
| EBIT margin % | 1.5% | 2.1% | 20% | 33% | 8.5% | 5.1% | 3.4% | -25.7% |
| PAT margin % | 19.7% | 23.9% | 37.5% | 42.6% | 42.4% | 37.5% | 36.6% | 37.7% |
| Working capital | ||||||||
| Receivable days | — | — | 376 | 110 | 293 | 293 | 692 | 1,030 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | 50 | 37 | 53 | 59 | 30 | 25 |
| NWC days | — | — | 326 | 73 | 240 | 234 | 662 | 1,005 |
| Leverage | ||||||||
| Current ratio | — | — | 2.07 | 4.9 | 4.98 | 5.15 | 15.08 | 17.81 |
| Debt to EBITDA | — | — | 9.36 | 2.83 | 15.93 | 15.78 | 19.82 | — |
| Debt to equity | — | — | 0.36 | 0.3 | 0.33 | 0.32 | 0.3 | 0.28 |
| Interest coverage | 1.9 | 1.7 | 2.5 | 5.2 | 3.1 | 2.9 | 2.4 | 2.2 |
| Asset turnover | — | — | 0.07 | 0.19 | 0.07 | 0.1 | 0.07 | 0.05 |
| Return ratios | ||||||||
| Return on assets % | — | — | 2.8% | 8.2% | 3.1% | 3.8% | 2.4% | 1.7% |
| Return on capital employed % | — | — | 7.3% | 14.1% | 6.6% | 7.1% | 5.5% | 4.1% |
| Return on equity % | — | — | 4.7% | 12.1% | 4.7% | 5.5% | 3.8% | 2.8% |
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.