Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 36.6% | 31.3% | 43.5% | 37.4% | 29.7% | 33.4% | 36.8% | 42.7% |
| EBITDA margin % | 9.3% | 5.8% | 6.8% | 5.8% | 3% | 2.1% | 7% | 5% |
| EBIT margin % | 7.8% | 4.3% | 0.9% | 2.3% | 1% | -0% | 0.5% | -4.6% |
| PAT margin % | 6.1% | -0.6% | -19.9% | 1.5% | 1.3% | -1.9% | 5.7% | 0.2% |
| Working capital | ||||||||
| Receivable days | 53 | 79 | 146 | 193 | 120 | 136 | 140 | 109 |
| Inventory days | 142 | 154 | 236 | 47 | 19 | 54 | 82 | 134 |
| Payable days | 17 | 36 | 470 | 194 | 137 | 152 | 183 | 198 |
| NWC days | 178 | 198 | -88 | 45 | 2 | 37 | 39 | 45 |
| Leverage | ||||||||
| Current ratio | 1.11 | 0.97 | 1.07 | 1.63 | 1.5 | 1.72 | 1.82 | 1.54 |
| Debt to EBITDA | 0.75 | 5.12 | 6.08 | 3.07 | 5.96 | 8.25 | 1.33 | 2.87 |
| Debt to equity | 0.05 | 0.19 | 0.07 | 0.04 | 0.06 | 0.04 | 0.03 | 0.04 |
| Interest coverage | 4.5 | 1.3 | 0.6 | 1.7 | 1.7 | 3.2 | 3.2 | 1.1 |
| Asset turnover | 0.55 | 0.42 | 0.14 | 0.2 | 0.27 | 0.23 | 0.25 | 0.25 |
| Return ratios | ||||||||
| Return on assets % | 3.3% | -0.2% | -2.8% | 0.3% | 0.4% | -0.4% | 1.4% | 0% |
| Return on capital employed % | 6.1% | 3.6% | 1.1% | 1% | 1.1% | 2.6% | 2.9% | 1.4% |
| Return on equity % | 4.6% | -0.4% | -3.3% | 0.3% | 0.4% | -0.5% | 1.6% | 0.1% |
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.