Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 29.5% | 3.2% | 24.5% | 7.6% | 6% | 16.6% | 16.2% | 16% |
| EBIT margin % | 28.9% | 2.4% | 23.5% | 5% | 1.3% | 11% | 10.8% | 11.2% |
| PAT margin % | 17.1% | -12.4% | -0.1% | -12.6% | -4.6% | -55.4% | -20% | -577.3% |
| Working capital | ||||||||
| Receivable days | — | — | 237 | 112 | 127 | 242 | 359 | 230 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | 11 | 14 | 9 | 8 | 6 | 57 |
| NWC days | — | — | 226 | 99 | 118 | 234 | 353 | 174 |
| Leverage | ||||||||
| Current ratio | — | — | 1.47 | 1.03 | 0.89 | 0.92 | 1.05 | 0.49 |
| Debt to EBITDA | — | — | 7.18 | 17.02 | 14.43 | 5.75 | 6.45 | 13.13 |
| Debt to equity | — | — | 0.77 | 0.57 | 0.48 | 0.61 | 0.7 | -0.97 |
| Interest coverage | 2.4 | 0.4 | 1 | 0.4 | 0.5 | 1.2 | 1.4 | 0.8 |
| Asset turnover | — | — | 0.24 | 0.26 | 0.34 | 0.33 | 0.31 | 1.09 |
| Return ratios | ||||||||
| Return on assets % | — | — | -0% | -3.2% | -1.6% | -18.1% | -6.1% | -628.9% |
| Return on capital employed % | — | — | 5.7% | 2% | 1.7% | 4.7% | 6.1% | 8.3% |
| Return on equity % | — | — | -0% | -5.6% | -2.6% | -35% | -13.3% | 267.6% |
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.