Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 6.9% | ||||
| 7.4% |
| 6.1% |
| 2.7% |
| 3.1% |
| EBITDA margin % | -1.4% | 1.8% | 2.9% | 2.7% | 4.8% | -3.4% | -2.2% | 0.7% |
| EBIT margin % | -2.1% | 1.7% | 2.8% | 2.6% | 4.7% | -3.7% | -2.3% | 0.6% |
| PAT margin % | 0.2% | 0.7% | 1% | 0.8% | 0.8% | -1.3% | 0.9% | 0.4% |
| Working capital | ||||||||
| Receivable days | — | — | — | 48 | 129 | 160 | 154 | 146 |
| Inventory days | — | — | — | 38 | 45 | 55 | 16 | 74 |
| Payable days | — | — | — | 28 | 48 | 2 | 1 | 24 |
| NWC days | — | — | — | 58 | 126 | 213 | 170 | 196 |
| Leverage | ||||||||
| Current ratio | — | — | — | 1.41 | 1.81 | 2.55 | 2.49 | 3.02 |
| Debt to EBITDA | — | — | — | 12.25 | 9.47 | — | — | 37.06 |
| Debt to equity | — | — | — | 1.06 | 0.74 | 0.41 | 0.38 | 0.24 |
| Interest coverage | 1.2 | 1.7 | 1.7 | 1.3 | 1.3 | 0.8 | 1.2 | 1.2 |
| Asset turnover | — | — | — | 1.38 | 0.82 | 0.52 | 0.54 | 0.71 |
| Return ratios | ||||||||
| Return on assets % | — | — | — | 1.1% | 0.7% | -0.7% | 0.5% | 0.3% |
| Return on capital employed % | — | — | — | 12.9% | 9.5% | 4% | 4% | 3.9% |
| Return on equity % | — | — | — | 2.5% | 1.3% | -1% | 0.7% | 0.3% |
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.