Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 0.5% | 0.5% | ||||
| 0.5% |
| 0.8% |
| 0.8% |
| 0.7% |
| EBITDA margin % | 32.4% | 20.4% | -0.4% | -0% | 0.2% | 0.4% | 0.3% | 0.1% |
| EBIT margin % | 30.6% | 18.5% | -0.4% | -0% | 0.2% | 0.4% | 0.3% | 0.1% |
| PAT margin % | 24.1% | 20.6% | -0.3% | 0% | 0.2% | 0.3% | 0.2% | 0.1% |
| Working capital | ||||||||
| Receivable days | — | — | 0 | 1 | 1 | 1 | 1 | 1 |
| Inventory days | — | — | 2 | 2 | 1 | 1 | 1 | 1 |
| Payable days | — | — | 1 | 1 | 1 | 1 | 1 | 1 |
| NWC days | — | — | 1 | 1 | 1 | 1 | 1 | 1 |
| Leverage | ||||||||
| Current ratio | — | — | 3.8 | 2.78 | 2.05 | 2.81 | 2.8 | 2.25 |
| Debt to EBITDA | — | — | — | — | 0.82 | 0.03 | 0.33 | 1.34 |
| Debt to equity | — | — | 0.03 | 0.1 | 0.16 | 0.01 | 0.07 | 0.09 |
| Interest coverage | 131 | 24.7 | -12.3 | 1.9 | 37.5 | 108.1 | 44.8 | 15.8 |
| Asset turnover | — | — | 23.82 | 40.62 | 60.88 | 70.76 | 50.58 | 49.05 |
| Return ratios | ||||||||
| Return on assets % | — | — | -5.9% | 0.3% | 9.2% | 22.2% | 11.6% | 3.6% |
| Return on capital employed % | — | — | -8.4% | 1.3% | 20.6% | 47.2% | 23.2% | 8.6% |
| Return on equity % | — | — | -7.1% | 0.4% | 14.5% | 30.7% | 16.3% | 5.1% |
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.