Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 78% | 80.5% | 70% | 61.6% | 61.4% | 70.9% |
| EBITDA margin % | 10.4% | -32.7% | -4.4% | -0.2% | -48.3% | -25.1% | -80.9% | -97.9% |
| EBIT margin % | 5.5% | -52.8% | -42.5% | -29.3% | -76.6% | -55.4% | -114.6% | -133.7% |
| PAT margin % | 1.4% | -66.1% | -56.6% | -18.5% | 10.4% | -11.7% | -66.3% | -75.2% |
| Working capital | ||||||||
| Receivable days | 87 | 138 | 292 | 172 | 129 | 130 | 114 | 107 |
| Inventory days | 60 | 100 | 1,013 | 969 | 587 | 388 | 377 | 427 |
| Payable days | — | — | 1,182 | 859 | 300 | 230 | 205 | 191 |
| NWC days | — | — | 122 | 282 | 416 | 289 | 286 | 343 |
| Leverage | ||||||||
| Current ratio | 1.07 | 0.96 | 0.93 | 1.24 | 4.83 | 4.85 | 3.38 | 2.58 |
| Debt to EBITDA | 9 | — | — | — | — | — | — | — |
| Debt to equity | 0.62 | 0.76 | 0.75 | 0.15 | 0.03 | 0.07 | 0.13 | 0.17 |
| Interest coverage | 1.2 | -1.1 | -0.1 | -0.6 | -7.4 | -1 | -7.3 | -4.9 |
| Asset turnover | 0.37 | 0.13 | 0.07 | 0.11 | 0.13 | 0.13 | 0.13 | 0.13 |
| Return ratios | ||||||||
| Return on assets % | 0.5% | -8.4% | -4% | -2.1% | 1.4% | -1.5% | -8.4% | -10.1% |
| Return on capital employed % | 6.5% | -7.5% | -0.4% | -0.9% | -9% | -0.8% | -8.1% | -9.4% |
| Return on equity % | 0.9% | -16.6% | -8% | -2.8% | 1.6% | -1.7% | -10.3% | -12.6% |
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.