Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 69.9% | 71.3% | 69.7% | 71.5% | 71.4% | 71% |
| EBITDA margin % | 15.4% | 21% | 20.4% | 19.1% | 18% | 16.4% |
| EBIT margin % | -3.8% | 11% | 11.4% | 8.3% | 5.9% | 3.9% |
| PAT margin % | -7% | 8.3% | 9.2% | -0.2% | 0.7% | -0.9% |
| Working capital | ||||||
| Receivable days | 14 | 6 | 4 | 5 | 6 | 5 |
| Inventory days | 65 | 50 | 52 | 34 | 41 | 38 |
| Payable days | 154 | 107 | 92 | 97 | 112 | 133 |
| NWC days | -75 | -51 | -36 | -57 | -64 | -90 |
| Leverage | ||||||
| Current ratio | 0.48 | 0.95 | 0.61 | 0.43 | 0.4 | 0.31 |
| Debt to EBITDA | 2.44 | 0.16 | 0 | 0.62 | 0.62 | 0.98 |
| Debt to equity | 1.25 | 0.07 | 0 | 0.34 | 0.34 | 0.38 |
| Interest coverage | 0.1 | 2.1 | 2.7 | 1.7 | 1.1 | 0.9 |
| Asset turnover | 0.63 | 0.85 | 0.93 | 0.86 | 0.84 | 0.75 |
| Return ratios | ||||||
| Return on assets % | -4.4% | 7.1% | 8.6% | -0.2% | 0.6% | -0.7% |
| Return on capital employed % | 0.8% | 14.1% | 15.9% | 10.9% | 7.9% | 5.5% |
| Return on equity % | -23.4% | 17.2% | 21.4% | -0.6% | 2.1% | -2.2% |
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.