Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 64.2% | 56.6% | 62.4% | 60.5% | 50.4% | 49.6% | 47.3% | 44% |
| EBITDA margin % | -4.8% | -18.5% | -9.5% | 11% | -15.8% | -18.2% | -14.5% | -8.2% |
| EBIT margin % | -8.2% | -22.7% | -13.7% | 8.3% | -18.7% | -21% | -16.9% | -10.8% |
| PAT margin % | -8.1% | -8% | 1.4% | 2.9% | 3.6% | -2.3% | 43.4% | 71.2% |
| Working capital | ||||||||
| Receivable days | 72 | 62 | 76 | 51 | 76 | 80 | 71 | 64 |
| Inventory days | 371 | 347 | 402 | 169 | 207 | 157 | 159 | 121 |
| Payable days | 0 | — | 111 | 64 | 66 | 69 | 78 | 87 |
| NWC days | 443 | — | 367 | 156 | 216 | 168 | 153 | 99 |
| Leverage | ||||||||
| Current ratio | 1 | 0.47 | 1 | 0.91 | 0.97 | 0.48 | 0.44 | 0.69 |
| Debt to EBITDA | — | — | — | 27.05 | — | — | — | — |
| Debt to equity | 1.56 | 1.47 | 4.55 | 4.79 | 4.62 | 1.79 | 1.71 | 0.7 |
| Interest coverage | 0.4 | 0.5 | 1.1 | 1.2 | 0.5 | 1.1 | 4.6 | 4 |
| Asset turnover | 0.33 | 0.27 | 0.15 | 0.26 | 0.19 | 0.41 | 0.45 | 0.5 |
| Return ratios | ||||||||
| Return on assets % | -2.7% | -2.1% | 0.2% | 0.8% | 0.7% | -0.9% | 19.3% | 35.5% |
| Return on capital employed % | 3.4% | 6.2% | 18.6% | 17.7% | 9.4% | 20.8% | 70.7% | 37.7% |
| Return on equity % | -7.7% | -7.3% | 1.2% | 4.7% | 4.3% | -3% | 63.1% | 74.4% |
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.