Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 15.1% | — | — | 17.4% | — | — | 16.8% | — |
| EBITDA margin % | 10% | 11.9% | 14.9% | 10.7% | 7.5% | 5.6% | 6.2% | 1.9% |
| EBIT margin % | 1.6% | -18.3% | 14.1% | 10.2% | 6.9% | 4.8% | 5.2% | 0.9% |
| PAT margin % | 2.1% | -18.8% | 17.8% | 9.5% | 15.1% | 15.1% | 36.8% | 18.7% |
| Working capital | ||||||||
| Receivable days | — | — | 82 | 69 | 56 | 95 | 110 | 31 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | 119 | 110 | 79 | 125 | 164 | 83 |
| NWC days | — | — | -36 | -41 | -23 | -30 | -54 | -51 |
| Leverage | ||||||||
| Current ratio | — | — | 1.78 | 1.71 | 1.5 | 1.17 | 1.28 | 0.79 |
| Debt to EBITDA | — | — | 0 | 0 | 0 | 4.53 | 2.49 | 9.42 |
| Debt to equity | — | — | 0 | 0 | 0 | 0.43 | 0.18 | 0.26 |
| Interest coverage | 7.7 | -32.3 | 1,568.4 | 962.5 | 980.5 | 10 | 15.5 | 12.6 |
| Asset turnover | — | 7 | 0.9 | 1.11 | 1.29 | 0.76 | 0.64 | 0.8 |
| Return ratios | ||||||||
| Return on assets % | — | -131.3% | 16% | 10.6% | 19.6% | 11.5% | 23.7% | 14.9% |
| Return on capital employed % | — | — | 23.5% | 22.5% | 30.9% | 26.2% | 40.9% | 21.5% |
| Return on equity % | — | — | 23.8% | 16.9% | 30.6% | 25.6% | 43.3% | 27% |
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.