Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | ||||
| — |
| — |
| — |
| — |
| EBITDA margin % | 69.6% | 57.2% | 48.7% | 53.4% | 53% | 69.2% | 50.7% | 56.6% |
| EBIT margin % | 68.8% | 56.1% | 47.7% | 52.4% | 52% | 68.2% | 49.7% | 55.6% |
| PAT margin % | 14.2% | 11.2% | -1.1% | 3.2% | 15% | 20.6% | 9.1% | 10.7% |
| Working capital | ||||||||
| Receivable days | 2 | 2 | 4 | 1 | — | — | — | — |
| Inventory days | — | — | — | — | 0 | 0 | 0 | 0 |
| Payable days | 0 | — | — | 16 | — | — | — | — |
| NWC days | — | — | — | — | — | — | — | — |
| Leverage | ||||||||
| Current ratio | — | — | — | — | — | — | — | — |
| Debt to EBITDA | 4.91 | 6.76 | 9.74 | 8.1 | 5.84 | 5.08 | 6.48 | 5.97 |
| Debt to equity | 4.08 | 3.72 | 4.04 | 3.4 | 2.85 | 2.7 | 2.74 | 3.05 |
| Interest coverage | 1.5 | 1.4 | 1 | 1.1 | 1.6 | 1.7 | 1.2 | 1.3 |
| Asset turnover | 0.21 | 0.2 | 0.16 | 0.17 | 0.23 | 0.2 | 0.22 | 0.21 |
| Return ratios | ||||||||
| Return on assets % | 2.9% | 2.2% | -0.2% | 0.5% | 3.5% | 4.2% | 2% | 2.3% |
| Return on capital employed % | — | — | — | — | — | — | — | — |
| Return on equity % | 16.9% | 10.8% | -0.9% | 2.5% | 13.8% | 15.9% | 7.6% | 9.7% |
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.