Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 47.6% | 37.1% | 23% | 41.3% | 46.8% | 48.6% | 16% | -89% |
| EBIT margin % | 47.6% | 37.1% | 23% | 41.3% | 46.8% | 43.4% | 8.8% | -97.5% |
| PAT margin % | 22.4% | 21.5% | 2.8% | 5.3% | 4.5% | 7.3% | -33.9% | -134% |
| Working capital | ||||||||
| Receivable days | — | 23 | 91 | 77 | 105 | — | — | — |
| Inventory days | — | — | — | — | — | 0 | 0 | 0 |
| Payable days | — | — | 8 | 14 | 2 | — | — | — |
| NWC days | — | — | — | — | — | — | — | — |
| Leverage | ||||||||
| Current ratio | — | — | — | — | — | — | — | — |
| Debt to EBITDA | — | 3.06 | 14.64 | 9.15 | 7.64 | 8.77 | 16.56 | — |
| Debt to equity | — | 0.69 | 0.81 | 1.66 | 1.99 | 3.13 | 3.21 | 6.29 |
| Interest coverage | 2.2 | 4.3 | 1.4 | 1.3 | 1.1 | 1.2 | 0.2 | -1 |
| Asset turnover | 0.36 | 0.39 | 0.13 | 0.16 | 0.18 | 0.17 | 0.28 | 0.21 |
| Return ratios | ||||||||
| Return on assets % | 8.2% | 8.5% | 0.4% | 0.8% | 0.8% | 1.3% | -9.5% | -27.8% |
| Return on capital employed % | — | — | — | — | — | — | — | — |
| Return on equity % | 35.5% | 13.1% | 0.7% | 2.3% | 2.5% | 5.3% | -41.1% | -207.2% |
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.