Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 53.8% | 48.7% | 58.3% | 46.7% | 61.8% | 65.8% | 59% | 68.6% |
| EBITDA margin % | -7.7% | -20.1% | 18.9% | 1.3% | -3.6% | 26.3% | 19.6% | 31.6% |
| EBIT margin % | -14.4% | -30.2% | 14.1% | -2% | -10.5% | 23.2% | 17.1% | 29.3% |
| PAT margin % | -22% | 191.1% | 13.2% | -2.6% | -3.2% | 50% | 22.8% | 35.8% |
| Working capital | ||||||||
| Receivable days | — | — | 185 | 94 | 194 | 143 | 241 | 269 |
| Inventory days | — | — | 245 | 132 | 448 | 296 | 215 | 236 |
| Payable days | — | — | 242 | 122 | 219 | 197 | 169 | 134 |
| NWC days | — | — | 187 | 104 | 423 | 242 | 287 | 371 |
| Leverage | ||||||||
| Current ratio | — | — | 1.47 | 1.18 | 1.56 | 1.89 | 2.62 | 3.69 |
| Debt to EBITDA | — | — | 1.07 | 9.13 | — | 0.51 | 1.07 | 0.41 |
| Debt to equity | — | — | 1.66 | 1.87 | 1.7 | 0.22 | 0.25 | 0.12 |
| Interest coverage | -4.1 | -3.9 | 2.3 | 0.5 | 0.7 | 6.4 | 11.2 | 14.2 |
| Asset turnover | — | — | 0.62 | 0.93 | 0.38 | 0.59 | 0.52 | 0.56 |
| Return ratios | ||||||||
| Return on assets % | — | — | 8.2% | -2.4% | -1.2% | 29.7% | 11.9% | 19.9% |
| Return on capital employed % | — | — | 21.2% | 4.2% | 5% | 24.9% | 17.5% | 28.6% |
| Return on equity % | — | — | 107.6% | -42.8% | -20.3% | 83.4% | 27% | 33.8% |
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.