Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 18.3% | 14.4% | 7.9% | 5% | ||||
| 8.7% |
| 11.3% |
| 6.9% |
| 5.5% |
| EBITDA margin % | -2.8% | -12.7% | -53.1% | -3.2% | -0.5% | 2% | 3.5% | 2.7% |
| EBIT margin % | -5.4% | -15.8% | -54.7% | -3.2% | -0.5% | 2% | 3.5% | 2.6% |
| PAT margin % | 0.6% | -20.1% | 50.7% | 4.3% | 5.8% | 3.9% | 3.8% | 2.9% |
| Working capital | ||||||||
| Receivable days | — | — | 255 | 179 | 162 | 109 | 176 | 28 |
| Inventory days | — | — | 14 | 3 | 1 | 1 | 0 | 0 |
| Payable days | — | — | 79 | 122 | 121 | 77 | 113 | 14 |
| NWC days | — | — | 190 | 61 | 42 | 32 | 63 | 14 |
| Leverage | ||||||||
| Current ratio | — | — | 4.63 | 2.41 | 2.41 | 3.11 | 1.89 | 5.71 |
| Debt to EBITDA | — | — | — | — | — | 0 | 0 | 0 |
| Debt to equity | — | — | 0.09 | 0.05 | 0 | 0 | 0 | 0 |
| Interest coverage | 1.1 | -2.1 | 0.7 | 8.4 | 44.5 | 138.3 | 36.9 | 112.7 |
| Asset turnover | — | — | 0.42 | 0.8 | 1.01 | 1.16 | 0.77 | 1.01 |
| Return ratios | ||||||||
| Return on assets % | — | — | 21.3% | 3.5% | 5.9% | 4.5% | 2.9% | 2.9% |
| Return on capital employed % | — | — | 1% | 8% | 11.1% | 8.6% | 6.6% | 4.4% |
| Return on equity % | — | — | 25.5% | 5% | 8.5% | 5.9% | 3.8% | 3% |
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.