Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 43.9% | 36.8% | 29.9% | 24.9% | 28.7% | 0.8% | 15.4% |
| EBITDA margin % | 13.5% | 9.5% | 6.3% | 5.2% | -3.8% | 1% | -34.9% | -68.1% |
| EBIT margin % | 12.2% | 8% | 4.9% | 4% | -5.3% | -1.1% | -41.4% | -292.1% |
| PAT margin % | 6.6% | 3.8% | 2.2% | 1.7% | -5.2% | -2.8% | -54.5% | -697.1% |
| Working capital | ||||||||
| Receivable days | — | — | 66 | 69 | 59 | 62 | 78 | 2,605 |
| Inventory days | — | — | 59 | 47 | 53 | 66 | 56 | 1,921 |
| Payable days | — | — | 92 | 70 | 73 | 96 | 145 | 5,030 |
| NWC days | — | — | 33 | 45 | 39 | 33 | -11 | -504 |
| Leverage | ||||||||
| Current ratio | — | — | 1.33 | 1.36 | 1.09 | 0.97 | 0.62 | 0.53 |
| Debt to EBITDA | — | — | 1.46 | 2.33 | — | 26.14 | — | — |
| Debt to equity | — | — | 0.23 | 0.34 | 0.47 | 0.53 | 0.76 | 0.94 |
| Interest coverage | 4.7 | 3.1 | 2.5 | 2.6 | -2 | -0.2 | -3.3 | -0.7 |
| Asset turnover | — | — | 1.43 | 1.55 | 1.3 | 1.06 | 0.44 | 0.01 |
| Return ratios | ||||||||
| Return on assets % | — | — | 3.2% | 2.7% | -6.8% | -3% | -23.8% | -9.4% |
| Return on capital employed % | — | — | 13% | 11.7% | -10.7% | -1.1% | -29.1% | -7.6% |
| Return on equity % | — | — | 5.6% | 4.9% | -12.9% | -5.8% | -52.4% | -24.2% |
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.