Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 73.8% | 69% | 90.2% | 88.1% | 97.1% | 97.7% |
| EBITDA margin % | 5.7% | -2.9% | 19.3% | 0.7% | -4.2% | -22.2% | -2.6% | 1.4% |
| EBIT margin % | 1.5% | -7.7% | 16.1% | -3.2% | -8.5% | -26.6% | -6.7% | -2.5% |
| PAT margin % | 0.8% | 37.5% | 14.7% | -46.6% | -5.5% | -20.5% | 0.7% | 1.8% |
| Working capital | ||||||||
| Receivable days | 77 | — | 16 | 13 | 16 | 10 | 4 | 1 |
| Inventory days | 47 | — | 213 | 209 | 928 | 471 | 1,153 | 1,097 |
| Payable days | 0 | — | 74 | 77 | 430 | 274 | 832 | 955 |
| NWC days | 123 | — | 156 | 145 | 515 | 207 | 326 | 144 |
| Leverage | ||||||||
| Current ratio | 1.35 | — | 3.98 | 3.04 | 0.8 | 0.4 | 0.39 | 0.46 |
| Debt to EBITDA | 3.21 | — | 0.23 | 17.96 | — | — | — | 19.17 |
| Debt to equity | 0.05 | — | 0.02 | 0.04 | 0.12 | 0.22 | 0.18 | 0.16 |
| Interest coverage | 2 | -2.4 | 18.8 | 27.3 | -3.2 | -9.2 | -2 | 0.4 |
| Asset turnover | 0.25 | — | 0.31 | 0.3 | 0.27 | 0.38 | 0.44 | 0.44 |
| Return ratios | ||||||||
| Return on assets % | 0.2% | — | 4.6% | -13.8% | -1.5% | -7.8% | 0.3% | 0.8% |
| Return on capital employed % | 0.9% | — | 8.1% | 6.9% | -1.3% | -11% | -2.9% | 0.4% |
| Return on equity % | 0.2% | — | 5.2% | -16.2% | -2% | -11.4% | 0.4% | 1.1% |
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.