Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 3.6% | 3.3% | 4.3% | 4.7% | 3.8% | 3.8% | 6.5% | 2.7% |
| EBITDA margin % | 3.1% | 2.7% | 3.7% | 3.9% | 3% | 2.8% | 3.4% | 1.6% |
| EBIT margin % | 3% | 2.6% | 3.7% | 3.9% | 2.9% | 2.8% | 3.4% | 1.6% |
| PAT margin % | 1.9% | 2% | 2.4% | 2.7% | 2.5% | 2.3% | 5.5% | 2.4% |
| Working capital | ||||||||
| Receivable days | 128 | 151 | — | 157 | 132 | 131 | 111 | 98 |
| Inventory days | — | — | — | 0 | 0 | 0 | 0 | 0 |
| Payable days | 83 | 100 | — | 105 | 102 | 84 | 73 | 82 |
| NWC days | — | — | — | 52 | 31 | 48 | 38 | 17 |
| Leverage | ||||||||
| Current ratio | 1.49 | 1.34 | — | 1.41 | 1.56 | 1.64 | 2.22 | 2.02 |
| Debt to EBITDA | 2.26 | 1.91 | — | 2.03 | 0.45 | 0.89 | 0.19 | 0 |
| Debt to equity | 0.28 | 0.24 | — | 0.31 | 0.05 | 0.1 | 0.02 | 0 |
| Interest coverage | 3.8 | 8.7 | 23.5 | 16.3 | 15.9 | 40.5 | 20.8 | 7.3 |
| Asset turnover | 1.84 | 1.86 | — | 1.63 | 1.76 | 1.96 | 1.95 | 1.92 |
| Return ratios | ||||||||
| Return on assets % | 3.6% | 3.6% | — | 4.4% | 4.4% | 4.5% | 10.7% | 4.7% |
| Return on capital employed % | 13.8% | 12.8% | — | 15.4% | 11.4% | 12.4% | 12.5% | 12.9% |
| Return on equity % | 7.9% | 9.1% | — | 10.9% | 8.9% | 8.9% | 17.9% | 8.4% |
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.