Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 16.2% | 11% | 32.9% | 30.3% | ||||
| 41.3% |
| 51.3% |
| 48.9% |
| 39.8% |
| EBITDA margin % | 2.2% | -12.3% | 4.8% | 0.2% | 12.4% | 21.7% | 16% | 6.4% |
| EBIT margin % | 1.8% | -13.1% | 0.9% | -4.2% | 9.2% | 18.7% | 13.1% | 3.3% |
| PAT margin % | 0.7% | 9.3% | -49% | 33.9% | 11% | 20.3% | 0.5% | -10.6% |
| Working capital | ||||||||
| Receivable days | — | — | 131 | 125 | 97 | 118 | 111 | 117 |
| Inventory days | — | — | 72 | 80 | 52 | 54 | 48 | 68 |
| Payable days | 49 | — | 135 | 61 | 75 | 63 | 87 | 85 |
| NWC days | — | — | 67 | 143 | 74 | 109 | 72 | 100 |
| Leverage | ||||||||
| Current ratio | — | — | 0.68 | 0.67 | 0.53 | 0.59 | 0.59 | 1.05 |
| Debt to EBITDA | 3.95 | — | 6.07 | 149 | 0.24 | 0.6 | 0.64 | 20.99 |
| Debt to equity | 0.07 | 0.07 | 0.08 | 0.06 | 0.01 | 0.03 | 0.03 | 0.44 |
| Interest coverage | 3 | -4.3 | 0.7 | 5.4 | 10.2 | 27 | 34.5 | 3.3 |
| Asset turnover | 0.38 | 0.25 | 0.12 | 0.1 | 0.12 | 0.15 | 0.18 | 0.14 |
| Return ratios | ||||||||
| Return on assets % | 0.3% | 2.3% | -6% | 3.5% | 1.3% | 3% | 0.1% | -1.5% |
| Return on capital employed % | — | — | 1% | 5.9% | 7.2% | 7.2% | 27.5% | 1.4% |
| Return on equity % | 0.6% | 5.2% | -14.4% | 7.8% | 2.4% | 5.4% | 0.2% | -3.4% |
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.