Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 5.6% | ||||
| 4.8% |
| 4.3% |
| 4.1% |
| — |
| EBITDA margin % | — | -10.3% | -21.3% | -9.4% | -13.2% | -38.8% | -17.2% | -16.7% |
| EBIT margin % | — | -12.4% | -26.1% | -12% | -16% | -41.1% | -19% | -17.8% |
| PAT margin % | — | 12.1% | 31.3% | -4.5% | 41.9% | 22.2% | 35.5% | -22.9% |
| Working capital | ||||||||
| Receivable days | — | 4 | 21 | 78 | 29 | 104 | 100 | 86 |
| Inventory days | — | — | — | 0 | 0 | 0 | 0 | — |
| Payable days | — | — | — | 20 | 12 | 5 | 14 | 1 |
| NWC days | — | — | — | 58 | 17 | 99 | 87 | — |
| Leverage | ||||||||
| Current ratio | 4.74 | 4.34 | 5.33 | 8.24 | 7.25 | 13.08 | 1.11 | 3.98 |
| Debt to EBITDA | — | — | — | — | — | — | — | — |
| Debt to equity | — | — | — | 0 | 0 | 0 | 0 | — |
| Interest coverage | 139 | 118.2 | 77.7 | 21 | 42 | 8.8 | 94.8 | 99.9 |
| Asset turnover | — | 0.35 | 0.13 | 0.24 | 0.21 | 0.18 | 0.2 | 0.32 |
| Return ratios | ||||||||
| Return on assets % | 59.3% | 4.2% | 4.2% | -1.1% | 8.6% | 4% | 7.2% | -7.3% |
| Return on capital employed % | 15.3% | 5.4% | 5.1% | 7.8% | 11.6% | 5.1% | 10.9% | 6.8% |
| Return on equity % | 62.7% | 4.5% | 4.5% | -1.2% | 9.2% | 4.2% | 8.7% | -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.