Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | — | — | — | — |
| EBITDA margin % | 9.6% | 3.5% | 5.6% | 8% |
| EBIT margin % | 4.8% | -1.2% | 1.7% | 3.9% |
| PAT margin % | 2% | -1.1% | 4.6% | 4.7% |
| Working capital | ||||
| Receivable days | 260 | 389 | 251 | 194 |
| Inventory days | 0 | 0 | 0 | 0 |
| Payable days | 147 | 155 | 111 | 85 |
| NWC days | 113 | 234 | 141 | 109 |
| Leverage | ||||
| Current ratio | 1.09 | 2.33 | 1.93 | 2.08 |
| Debt to EBITDA | 4.18 | 4.34 | 1.23 | 0.89 |
| Debt to equity | 0.9 | 0.09 | 0.07 | 0.09 |
| Interest coverage | 1.5 | 0.9 | 4.4 | 5.2 |
| Asset turnover | 0.56 | 0.35 | 0.6 | 0.75 |
| Return ratios | ||||
| Return on assets % | 1.1% | -0.4% | 2.8% | 3.5% |
| Return on capital employed % | 16.3% | 4.2% | 5.6% | 7.6% |
| Return on equity % | 4.5% | -0.6% | 4.7% | 5.6% |
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.