Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | — | — | — | 6.8% | 38.8% | 41.1% | 32.6% | -71.6% |
| EBIT margin % | — | — | — | -5.3% | 18.2% | 18.3% | 0.7% | -84.5% |
| PAT margin % | — | — | — | -8.8% | 13.6% | 15.5% | 117.3% | 14.2% |
| Working capital | ||||||||
| Receivable days | — | — | — | 190 | 82 | 108 | 73 | 64 |
| Inventory days | — | — | — | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | — | 51 | 71 | 37 | 41 | 28 |
| NWC days | — | — | — | 140 | 10 | 71 | 32 | 36 |
| Leverage | ||||||||
| Current ratio | — | — | — | 2.09 | 1.17 | 2.81 | 2.26 | 1.88 |
| Debt to EBITDA | — | — | — | 9.67 | 1.42 | 2.85 | 20.15 | — |
| Debt to equity | — | — | — | 0.45 | 0.54 | 0.29 | 0.7 | 0.51 |
| Interest coverage | — | — | — | -0.5 | 7.4 | 4.8 | 3.9 | 1.5 |
| Asset turnover | — | — | — | 0.39 | 0.45 | 0.18 | 0.06 | 0.02 |
| Return ratios | ||||||||
| Return on assets % | — | — | — | -3.5% | 6.1% | 2.9% | 7.2% | 0.3% |
| Return on capital employed % | — | — | — | -1.3% | 22.1% | 10.8% | 15.4% | 9% |
| Return on equity % | — | — | — | -6% | 13.4% | 3.8% | 12.5% | 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.