Standalone figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 41% | 36.7% | 23.8% | 47.5% | 33.1% | 55.6% | 38.1% |
| EBITDA margin % | 7.4% | 6.6% | -12.5% | 10.1% | 5.9% | 17% | 10.4% |
| EBIT margin % | 4.1% | 4.4% | -14% | 8.4% | 4.3% | 14.8% | 9.3% |
| PAT margin % | 0.9% | 1.7% | 3% | 2.3% | 0.6% | 1.4% | 1.1% |
| Working capital | |||||||
| Receivable days | — | — | — | 728 | 1,044 | 2,056 | 1,133 |
| Inventory days | — | — | — | 432 | 306 | 1,047 | 383 |
| Payable days | — | — | — | 390 | 224 | 733 | 283 |
| NWC days | — | — | — | 770 | 1,127 | 2,369 | 1,233 |
| Leverage | |||||||
| Current ratio | — | — | — | 1.93 | 1.82 | 1.83 | 1.79 |
| Debt to EBITDA | — | — | — | 9.62 | 26.73 | 17.7 | 15.92 |
| Debt to equity | — | — | — | 0.74 | 1.03 | 0.98 | 1.05 |
| Interest coverage | 1.3 | 1.4 | 1.7 | 1.4 | 1.2 | 1.1 | 1.2 |
| Asset turnover | — | — | — | 0.33 | 0.27 | 0.13 | 0.25 |
| Return ratios | |||||||
| Return on assets % | — | — | — | 0.7% | 0.2% | 0.2% | 0.3% |
| Return on capital employed % | — | — | — | 6.5% | 5% | 4.8% | 5.8% |
| Return on equity % | — | — | — | 1.7% | 0.4% | 0.4% | 0.7% |
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.