Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 66.9% | 65.2% | 55.5% | 48.8% | 48.3% | 51.8% |
| EBITDA margin % | 30.4% | 31.2% | 13.9% | -3.5% | 4.3% | 5% |
| EBIT margin % | 23.5% | 26.7% | 9.7% | -10% | -1.9% | -2.2% |
| PAT margin % | 3.4% | 18.9% | 6.6% | -6.3% | -2.8% | -46.2% |
| Working capital | ||||||
| Receivable days | 19 | 33 | 43 | 40 | 22 | 29 |
| Inventory days | 203 | 181 | 147 | 164 | 117 | 137 |
| Payable days | 265 | 201 | 212 | 256 | 186 | 206 |
| NWC days | -43 | 13 | -23 | -52 | -47 | -41 |
| Leverage | ||||||
| Current ratio | 1.12 | 2.01 | 1.68 | 1.16 | 0.96 | 0.82 |
| Debt to EBITDA | 3.03 | 0 | 0.68 | — | 9.71 | 10.91 |
| Debt to equity | 0.59 | 0 | 0.05 | 0.17 | 0.24 | 0.37 |
| Interest coverage | 1.2 | 4.2 | 10.6 | -3.8 | -0.3 | -0.3 |
| Asset turnover | 0.3 | 0.41 | 0.4 | 0.28 | 0.37 | 0.39 |
| Return ratios | ||||||
| Return on assets % | 1% | 7.7% | 2.6% | -1.8% | -1% | -18% |
| Return on capital employed % | 8.2% | 13.9% | 5.2% | -2.6% | -0.5% | -0.7% |
| Return on equity % | 2.2% | 10% | 3.7% | -2.7% | -1.6% | -31.4% |
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.