Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 40.6% | 43.9% | 48.7% | 48.5% | 49.5% | 32.3% | 29.8% | 31.9% |
| EBITDA margin % | 16.7% | 8.7% | 14.1% | 17.4% | 16.5% | 8.4% | -2.3% | 2.4% |
| EBIT margin % | 12.1% | 1.8% | 7.8% | 12.4% | 10.9% | 2.2% | -12.1% | -5.5% |
| PAT margin % | 5.3% | -99.1% | 0.9% | 5.7% | 5.6% | -97.5% | -15.8% | -6.8% |
| Working capital | ||||||||
| Receivable days | — | 181 | 151 | 129 | 51 | 41 | 61 | 94 |
| Inventory days | — | 109 | 105 | 82 | 55 | 51 | 60 | 67 |
| Payable days | — | — | 213 | 164 | 78 | 113 | 106 | 165 |
| NWC days | — | — | 43 | 47 | 28 | -21 | 15 | -4 |
| Leverage | ||||||||
| Current ratio | — | 0.89 | 0.73 | 0.8 | 0.53 | 0.55 | 0.47 | 0.52 |
| Debt to EBITDA | — | 6.12 | 4.31 | 2.07 | 1.69 | 3.62 | — | 20.86 |
| Debt to equity | — | 0.5 | 0.56 | 0.38 | 0.25 | 0.6 | 0.72 | 0.79 |
| Interest coverage | 2.5 | 0.4 | 1.2 | 2.2 | 2.7 | 0.8 | -1.6 | -0.7 |
| Asset turnover | — | 0.44 | 0.45 | 0.57 | 0.58 | 0.82 | 0.55 | 0.52 |
| Return ratios | ||||||||
| Return on assets % | — | -43.5% | 0.4% | 3.2% | 3.3% | -79.8% | -8.7% | -3.5% |
| Return on capital employed % | — | 3% | 8.2% | 14.6% | 10.9% | 3.6% | -13.1% | -5.4% |
| Return on equity % | — | -93.6% | 0.8% | 6% | 5.1% | -191.7% | -22.5% | -10.6% |
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.