Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | -83.8% | -17% | 5.5% | 23% | 25.5% | 11% | 1.2% | -10.9% |
| EBIT margin % | -148.6% | -70.8% | -39% | -3.1% | 4.1% | -6.8% | -14.3% | -28.6% |
| PAT margin % | -187.3% | -20.5% | 0% | -395.9% | -170.4% | 79.1% | 52.2% | 49.7% |
| Working capital | ||||||||
| Receivable days | — | 49 | 30 | 19 | 30 | 36 | 75 | 70 |
| Inventory days | — | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | 24 | 53 | 15 | 15 | 4 | 11 | 18 |
| NWC days | — | 25 | -23 | 4 | 15 | 32 | 63 | 52 |
| Leverage | ||||||||
| Current ratio | — | 3.5 | 4.35 | 2.93 | 2.48 | 3.24 | 3.17 | 2.59 |
| Debt to EBITDA | — | — | 39.25 | 6.36 | 5.5 | 9.9 | 111.5 | — |
| Debt to equity | — | 0.06 | 0.07 | 0.08 | 0.08 | 0.06 | 0.06 | 0.05 |
| Interest coverage | -6.6 | 1.2 | 29.5 | — | — | — | — | 17 |
| Asset turnover | — | 0.03 | 0.03 | 0.05 | 0.05 | 0.05 | 0.04 | 0.03 |
| Return ratios | ||||||||
| Return on assets % | — | -0.7% | 0% | -19% | -8.9% | 3.9% | 2.1% | 1.6% |
| Return on capital employed % | — | 0.6% | 2.5% | 2.5% | 2.2% | 3.9% | 2.5% | 0.8% |
| Return on equity % | — | -0.8% | 0% | -21.6% | -10.2% | 4.4% | 2.4% | 1.8% |
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.