Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 15.3% | 18.6% | 17.7% | 21% | 17.8% | 20% | 20.9% | 19.5% |
| EBITDA margin % | 4.5% | 6.9% | 2.7% | 4% | 4% | 4.3% | 5.3% | 6.8% |
| EBIT margin % | 1.3% | 3.6% | -0.5% | 0.2% | 0.7% | 0.8% | 1.5% | 2.9% |
| PAT margin % | -0.9% | -1.6% | -4.2% | -3.9% | -2.3% | -1.5% | 0.1% | 2.6% |
| Working capital | ||||||||
| Receivable days | 16 | — | 12 | 14 | 8 | 9 | 7 | 6 |
| Inventory days | 122 | — | 169 | 228 | 184 | 204 | 223 | 203 |
| Payable days | 139 | — | 296 | 339 | 318 | 269 | 293 | 266 |
| NWC days | -1 | — | -116 | -98 | -126 | -56 | -63 | -57 |
| Leverage | ||||||||
| Current ratio | — | — | 1.22 | 0.99 | 0.83 | 0.82 | 0.84 | 0.82 |
| Debt to EBITDA | 21.32 | — | 26.82 | 18.89 | 16.65 | 14.51 | 11.81 | 9.43 |
| Debt to equity | 1.63 | — | 1.63 | 1.47 | 0.94 | 0.84 | 0.8 | 0.91 |
| Interest coverage | 0.8 | 0.8 | -0.1 | 0.1 | 0.3 | 0.4 | 1 | 6.9 |
| Asset turnover | 0.49 | — | 0.49 | 0.41 | 0.41 | 0.39 | 0.37 | 0.39 |
| Return ratios | ||||||||
| Return on assets % | -0.5% | — | -2% | -1.6% | -1% | -0.6% | 0% | 1% |
| Return on capital employed % | — | — | -0.2% | 0.4% | 0.7% | 0.7% | 1.1% | 2.1% |
| Return on equity % | -1.6% | — | -9.5% | -7.6% | -3.3% | -2% | 0.1% | 3.6% |
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.