Standalone figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 10.7% | 3% | 3.1% | -9.1% | 9.7% | 10% | 9% |
| EBITDA margin % | 4.7% | -7% | -6.5% | -28.4% | 2% | 5.1% | 4.2% |
| EBIT margin % | 4.5% | -7.2% | -6.7% | -28.8% | 1.7% | 4.9% | 4% |
| PAT margin % | 6.9% | -3.5% | -4.8% | -24.4% | 3.2% | 5.9% | -40.7% |
| Working capital | |||||||
| Receivable days | — | 88 | 62 | 137 | 88 | 74 | 96 |
| Inventory days | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | 282 | 157 | 76 | 184 | 166 | 141 |
| NWC days | — | -193 | -95 | 62 | -96 | -91 | -46 |
| Leverage | |||||||
| Current ratio | — | 1 | 1.4 | 1.61 | 1.34 | 1.24 | 0.94 |
| Debt to EBITDA | — | — | — | — | 8.76 | 3.26 | 4.51 |
| Debt to equity | — | 0.75 | 0.24 | 1.57 | 0.18 | 0.3 | 2.54 |
| Interest coverage | 3.9 | -1.1 | -1.7 | -1.5 | 1.6 | 4.4 | 2.8 |
| Asset turnover | — | 0.84 | 0.87 | 0.36 | 0.48 | 0.77 | 1.29 |
| Return ratios | |||||||
| Return on assets % | — | -3% | -4.2% | -8.8% | 1.5% | 4.5% | -52.6% |
| Return on capital employed % | — | -13.9% | -12.6% | -12% | 13% | 14.3% | 18.3% |
| Return on equity % | — | -21.8% | -11.2% | -30.4% | 3.3% | 10.6% | -547% |
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.