Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 36.7% | 70.6% | 36.7% | 44.2% | 47.4% | 44.4% | 48.1% |
| EBITDA margin % | 7.8% | 11.2% | 42.1% | 15.1% | 23.6% | 26.4% | 21.4% | 22.1% |
| EBIT margin % | -1% | 2.8% | 33.4% | 9.9% | 20.1% | 23% | 17.8% | 18.1% |
| PAT margin % | -18.5% | -23.7% | -6.7% | 3.3% | 10.6% | 15.5% | 11.7% | 12.3% |
| Working capital | ||||||||
| Receivable days | 55 | 42 | 53 | 35 | 30 | 46 | 51 | 60 |
| Inventory days | 146 | 174 | 322 | 113 | 122 | 110 | 131 | 140 |
| Payable days | — | — | — | — | 20 | 7 | 18 | 12 |
| NWC days | — | — | — | — | 132 | 150 | 164 | 188 |
| Leverage | ||||||||
| Current ratio | 0.56 | 0.36 | 1.83 | 1.96 | 3.81 | 7.55 | 4.57 | 6.57 |
| Debt to EBITDA | 25.06 | 14.03 | 2.6 | 4.32 | 1.31 | 0.81 | 0.99 | 0.57 |
| Debt to equity | 4.69 | 10.39 | 0.63 | 0.6 | 0.32 | 0.2 | 0.18 | 0.09 |
| Interest coverage | -0 | 0.1 | 0.8 | 1.8 | 5.4 | 9.7 | 8.3 | 9.8 |
| Asset turnover | 0.31 | 0.34 | 0.34 | 0.53 | 0.75 | 0.76 | 0.65 | 0.6 |
| Return ratios | ||||||||
| Return on assets % | -5.8% | -8.1% | -2.2% | 1.8% | 8% | 11.8% | 7.6% | 7.3% |
| Return on capital employed % | -0.3% | 1.9% | 17.2% | 6.3% | 17.3% | 19.4% | 13.6% | 12.1% |
| Return on equity % | -44.7% | -156.1% | -3.9% | 3% | 11.1% | 14.6% | 9.8% | 8.9% |
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.