Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 44.3% | 49% | 54% | 61.6% | 71.8% | 29.7% |
| EBITDA margin % | 2.1% | 1.9% | 6.5% | 3.8% | 2.4% | -0.9% | -0.2% | 0.9% |
| EBIT margin % | 0.6% | -0.7% | 2.7% | -0.1% | -1.5% | -4.3% | -3.4% | -1.8% |
| PAT margin % | -1.2% | -2% | 2.2% | 0.6% | -3.3% | 30.4% | -1.5% | 0.8% |
| Working capital | ||||||||
| Receivable days | — | — | 100 | 93 | 71 | 57 | 47 | 39 |
| Inventory days | — | — | 308 | 277 | 291 | 313 | 333 | 90 |
| Payable days | — | — | 66 | 74 | 63 | 39 | 176 | 56 |
| NWC days | — | — | 342 | 295 | 299 | 331 | 203 | 72 |
| Leverage | ||||||||
| Current ratio | — | — | 1.92 | 2.13 | 3.63 | 3.41 | 1.9 | 2.01 |
| Debt to EBITDA | — | — | 4.45 | 5.45 | 0.41 | — | — | 0 |
| Debt to equity | — | — | 0.34 | 0.24 | 0.01 | 0 | 0 | 0 |
| Interest coverage | 0.4 | 0.3 | 1.5 | 1.3 | 0.5 | 18.5 | -2.8 | — |
| Asset turnover | — | — | 0.73 | 0.74 | 0.97 | 0.68 | 0.61 | 0.75 |
| Return ratios | ||||||||
| Return on assets % | — | — | 1.6% | 0.4% | -3.2% | 20.6% | -0.9% | 0.6% |
| Return on capital employed % | — | — | 4.5% | 3.6% | 1% | -1.7% | -0.5% | 1.1% |
| Return on equity % | — | — | 2.6% | 0.7% | -4% | 25.7% | -1.3% | 0.8% |
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.