Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 54% | 53.8% | 50.7% | 50% | 42.7% | 48.7% | 48.9% | 43.8% |
| EBITDA margin % | 14.5% | 14.3% | 10.6% | 12.7% | 10.5% | 16.4% | 15.2% | 6% |
| EBIT margin % | 12.2% | 12.2% | 8.2% | 10.4% | 8.8% | 14.8% | 13.3% | 3.1% |
| PAT margin % | -26.6% | 4% | 1.9% | 6.5% | 4.8% | 10.6% | 10.6% | 2.6% |
| Working capital | ||||||||
| Receivable days | 92 | — | 119 | 76 | 69 | 82 | 93 | 89 |
| Inventory days | 187 | — | 320 | 267 | 156 | 178 | 200 | 206 |
| Payable days | 0 | — | 133 | 82 | 47 | 50 | 49 | 55 |
| NWC days | 279 | — | 306 | 261 | 178 | 210 | 243 | 240 |
| Leverage | ||||||||
| Current ratio | 1.22 | — | 1.49 | 1.42 | 1.48 | 1.63 | 1.73 | 2.15 |
| Debt to EBITDA | 4.24 | — | 7.86 | 4.25 | 3.37 | 1.76 | 1.76 | 3.95 |
| Debt to equity | 0.62 | — | 0.51 | 0.68 | 0.57 | 0.4 | 0.32 | 0.21 |
| Interest coverage | 1.6 | 1.6 | 1.3 | 3.3 | 2.6 | 5.6 | 7 | 2.8 |
| Asset turnover | 0.48 | — | 0.33 | 0.61 | 0.85 | 0.81 | 0.74 | 0.58 |
| Return ratios | ||||||||
| Return on assets % | -12.8% | — | 0.6% | 4% | 4.1% | 8.6% | 7.8% | 1.5% |
| Return on capital employed % | 9% | — | 4.7% | 11.7% | 13.1% | 19.7% | 15.4% | 5.2% |
| Return on equity % | -26.7% | — | 1.2% | 8.2% | 7.8% | 14.7% | 12.6% | 2.3% |
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.