Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | — | — | 93.9% | 77.9% | 90.3% | — |
| EBITDA margin % | 5.8% | 10.2% | 10.5% | 7.5% | 4.1% | 3.3% |
| EBIT margin % | 1.8% | 7.8% | 8.7% | 5.8% | 1.9% | 1.6% |
| PAT margin % | -1% | 5.4% | 5.2% | 6.5% | 0.7% | 1.4% |
| Working capital | ||||||
| Receivable days | 124 | 100 | 109 | 95 | 101 | 116 |
| Inventory days | 19 | 14 | 8 | 2 | 5 | 0 |
| Payable days | 21 | 15 | 378 | 55 | 107 | 8 |
| NWC days | 122 | 99 | -261 | 41 | -0 | 108 |
| Leverage | ||||||
| Current ratio | 1.73 | 1.69 | 1.41 | 2.02 | 1.98 | 2.06 |
| Debt to EBITDA | 3.78 | 1.76 | 1.86 | 2.48 | 4.64 | 5.18 |
| Debt to equity | 0.98 | 0.91 | 0.89 | 0.84 | 0.73 | 0.66 |
| Interest coverage | 0.8 | 3.9 | 4.7 | 5.4 | 1.5 | 1.9 |
| Asset turnover | 1.31 | 1.83 | 1.78 | 2.08 | 1.91 | 1.96 |
| Return ratios | ||||||
| Return on assets % | -1.3% | 9.9% | 9.2% | 13.5% | 1.3% | 2.6% |
| Return on capital employed % | 6.4% | 30.8% | 31.9% | 38.9% | 8.5% | 10.1% |
| Return on equity % | -4.5% | 27.6% | 23.7% | 29.1% | 2.7% | 5.3% |
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.