Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 80.1% | 80.5% | 85.4% | 86.2% | ||||
| 86.4% |
| 85.9% |
| 70.8% |
| 75.9% |
| EBITDA margin % | -2.8% | -0.7% | 12.1% | 9.6% | -3.9% | -9.3% | 8.4% | -18.9% |
| EBIT margin % | -5.7% | -5.4% | 7.8% | 6.5% | -6.7% | -13.6% | 5.6% | -22.4% |
| PAT margin % | 14.3% | -0.8% | 6% | 7.9% | -1% | 1.7% | 3.5% | -2% |
| Working capital | ||||||||
| Receivable days | 67 | 76 | 65 | 88 | 85 | 254 | 236 | 263 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 722 | 757 | 941 | 984 | 959 | 845 | 262 | 590 |
| NWC days | — | — | -876 | -896 | -874 | -592 | -26 | -328 |
| Leverage | ||||||||
| Current ratio | 3.32 | 2.62 | 2.67 | 2.28 | 3.32 | 3.5 | 3.32 | 2.14 |
| Debt to EBITDA | — | — | 0 | 0 | — | — | 1.39 | — |
| Debt to equity | — | — | 0 | 0 | 0.01 | 0.02 | 0.04 | 0.06 |
| Interest coverage | 966.3 | 10.2 | 36 | 60 | 5.7 | 3.2 | 9.5 | 0.3 |
| Asset turnover | 0.27 | 0.24 | 0.24 | 0.24 | 0.25 | 0.21 | 0.29 | 0.21 |
| Return ratios | ||||||||
| Return on assets % | 3.9% | -0.2% | 1.4% | 1.9% | -0.3% | 0.4% | 1% | -0.4% |
| Return on capital employed % | 5.4% | 1.8% | 4.5% | 4.4% | 0.4% | 1% | 3.3% | 0.2% |
| Return on equity % | 4.5% | -0.2% | 1.7% | 2.2% | -0.3% | 0.4% | 1.2% | -0.5% |
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.