Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 32.6% | 24.8% | — | — | — | 79.7% |
| EBITDA margin % | 8.3% | 5.5% | 4.1% | -7.7% | 44.8% | 59.8% | 53% | 40.3% |
| EBIT margin % | 5% | 2.3% | 1.8% | -9.9% | 13.6% | 33.7% | 24.8% | 21% |
| PAT margin % | 2.5% | 1.2% | 0.8% | -10.9% | 6.6% | 24.8% | 17.1% | 16.4% |
| Working capital | ||||||||
| Receivable days | — | — | 32 | 24 | 110 | 99 | 103 | 103 |
| Inventory days | — | — | 94 | 87 | 0 | 0 | 0 | 109 |
| Payable days | — | — | 26 | 29 | 14 | 3 | 12 | 26 |
| NWC days | — | — | 100 | 82 | 96 | 97 | 91 | 185 |
| Leverage | ||||||||
| Current ratio | — | — | 2.48 | 1.51 | 2.74 | 4.99 | 6.72 | 6.28 |
| Debt to EBITDA | — | — | 2.08 | — | 0.69 | 0.08 | 0 | 0 |
| Debt to equity | — | — | 0.18 | 0.47 | 0.06 | 0.01 | 0 | 0 |
| Interest coverage | 3.4 | 2.9 | 2.6 | -10.5 | 2.6 | 18.2 | 15.6 | 53 |
| Asset turnover | — | — | 1.52 | 1.5 | 0.18 | 0.2 | 0.19 | 0.27 |
| Return ratios | ||||||||
| Return on assets % | — | — | 1.2% | -16.4% | 1.2% | 4.8% | 3.2% | 4.4% |
| Return on capital employed % | — | — | 3.9% | -22.6% | 1.9% | 7.2% | 4.9% | 6.5% |
| Return on equity % | — | — | 1.7% | -29.4% | 1.4% | 5.5% | 3.6% | 4.9% |
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.