Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | 77.8% | 76.6% | 60.8% |
| EBITDA margin % | 41.5% | 12.6% | 24.5% | 33.9% | 36.4% | 53.3% | 44.8% | 10.6% |
| EBIT margin % | 34.2% | 9.7% | 9.3% | 24.8% | 27.4% | 48.6% | 40.3% | 3.2% |
| PAT margin % | 32.1% | 9% | -20.1% | 10.9% | 13.5% | 31.7% | 25% | -37.6% |
| Working capital | ||||||||
| Receivable days | — | — | 72 | 58 | 82 | 232 | 348 | 518 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | 34 | 13 | 45 | 63 | 37 | 19 |
| NWC days | — | — | 38 | 45 | 37 | 169 | 311 | 499 |
| Leverage | ||||||||
| Current ratio | — | — | 1.7 | 1.76 | 1.99 | 1.13 | 1.27 | 2.49 |
| Debt to EBITDA | — | — | 6.25 | 3.57 | 2.3 | 0.95 | 1.53 | 4.83 |
| Debt to equity | — | — | 0.35 | 0.34 | 0.22 | 0.21 | 0.3 | 0.13 |
| Interest coverage | 4.6 | 3.5 | 0.6 | 2.2 | 2.9 | 9.9 | 7.5 | 0.9 |
| Asset turnover | — | — | 0.16 | 0.2 | 0.2 | 0.33 | 0.31 | 0.22 |
| Return ratios | ||||||||
| Return on assets % | — | — | -3.2% | 2.2% | 2.7% | 10.4% | 7.8% | -8.1% |
| Return on capital employed % | — | — | 1.7% | 5.6% | 6.2% | 20.5% | 18.1% | 1.8% |
| Return on equity % | — | — | -4.6% | 3.1% | 3.5% | 13.3% | 10.8% | -9.4% |
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.