Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | ||||
| — |
| — |
| — |
| — |
| EBITDA margin % | 4.4% | 6.3% | 9.2% | 8.8% | 3.5% | 3.6% | 4.3% | 8.8% |
| EBIT margin % | -0.3% | 1.3% | 6.1% | 6.3% | 0.1% | -0.7% | -0.4% | 5% |
| PAT margin % | -0.1% | 0.1% | 2.9% | 7% | 1.3% | 1.2% | 1.4% | 7.3% |
| Working capital | ||||||||
| Receivable days | 90 | 85 | 107 | 78 | 81 | 95 | 91 | 90 |
| Inventory days | 0 | 0 | 1 | 0 | 0 | 0 | 1 | 0 |
| Payable days | — | — | 22 | 17 | 20 | 29 | 27 | 19 |
| NWC days | — | — | 85 | 61 | 61 | 67 | 64 | 71 |
| Leverage | ||||||||
| Current ratio | 0.75 | 0.87 | 1.04 | 1.4 | 1.35 | 1.18 | 1.28 | 1.42 |
| Debt to EBITDA | 5 | 2.97 | 1.68 | 1.23 | 1.95 | 3.29 | 1.9 | 0.85 |
| Debt to equity | 0.25 | 0.19 | 0.16 | 0.12 | 0.07 | 0.11 | 0.08 | 0.09 |
| Interest coverage | 0.8 | 1.1 | 3.5 | 4.6 | 2.2 | 2.8 | 4 | 10.9 |
| Asset turnover | 0.72 | 0.68 | 0.72 | 0.86 | 0.8 | 0.68 | 0.73 | 0.89 |
| Return ratios | ||||||||
| Return on assets % | -0% | 0.1% | 2.1% | 6% | 1% | 0.8% | 1% | 6.4% |
| Return on capital employed % | 2% | 3% | 7.7% | 7.9% | 2.7% | 2.6% | 3.1% | 7.8% |
| Return on equity % | -0.1% | 0.1% | 3% | 8% | 1.3% | 1.1% | 1.4% | 8.7% |
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.