Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 2.8% | 3% | 3% | 5.8% | 5.5% | 5.9% |
| EBITDA margin % | 1.2% | 2.7% | 0.5% | 1.4% | 1.5% | 3.5% | 3.2% | 3.6% |
| EBIT margin % | -0.1% | 1.5% | -0.3% | 1% | 1.2% | 3.1% | 2.8% | 3.2% |
| PAT margin % | 1.1% | 1.3% | 0.8% | 0.7% | 0.7% | 2.2% | 3% | 4% |
| Working capital | ||||||||
| Receivable days | — | — | 257 | 72 | 62 | 44 | 49 | 48 |
| Inventory days | — | — | 14 | 6 | 2 | 5 | 5 | 4 |
| Payable days | — | — | 143 | 32 | 24 | 16 | 26 | 17 |
| NWC days | — | — | 128 | 46 | 39 | 34 | 28 | 35 |
| Leverage | ||||||||
| Current ratio | — | — | 2.39 | 1.98 | 1.91 | 2.39 | 2.23 | 2.05 |
| Debt to EBITDA | — | — | 12.57 | 2.62 | 2.94 | 0.01 | 0 | 3.47 |
| Debt to equity | — | — | 0.06 | 0.08 | 0.15 | 0 | 0 | 0.25 |
| Interest coverage | 2.8 | 12.8 | 14.3 | 55.9 | 24 | 83.3 | 258.4 | 10.6 |
| Asset turnover | — | — | 0.63 | 1.14 | 1.93 | 2.1 | 1.33 | 1.18 |
| Return ratios | ||||||||
| Return on assets % | — | — | 0.5% | 0.8% | 1.3% | 4.6% | 4% | 4.7% |
| Return on capital employed % | — | — | 1.7% | 4.2% | 6.4% | 13.7% | 10.4% | 12.5% |
| Return on equity % | — | — | 0.7% | 1.4% | 2.3% | 6.7% | 6.2% | 8.1% |
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.