Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 62% | 30% | 33.1% | 26.5% | 25.3% | 30.4% | 31.8% | 26.6% |
| EBITDA margin % | 8.8% | 4.6% | 9% | 3.4% | 4.4% | 9.8% | 9% | 1.2% |
| EBIT margin % | 4.8% | -0% | 4.3% | 0.3% | 2.8% | 8.8% | 8% | -0% |
| PAT margin % | 4.1% | 1.6% | 2.5% | -1.9% | -2.5% | 7.5% | 10.4% | -0.4% |
| Working capital | ||||||||
| Receivable days | — | — | 42 | — | 23 | 18 | 22 | 24 |
| Inventory days | — | — | 107 | — | 90 | 75 | 77 | 77 |
| Payable days | — | — | 83 | — | 60 | 52 | 60 | 65 |
| NWC days | — | — | 66 | — | 54 | 41 | 39 | 37 |
| Leverage | ||||||||
| Current ratio | — | — | 0.59 | — | 0.41 | 0.57 | 0.68 | 0.54 |
| Debt to EBITDA | — | — | 4.45 | — | 14.04 | 3.98 | 3.28 | 23.11 |
| Debt to equity | — | — | -1.11 | — | -1.82 | -2.32 | -10.75 | -9.14 |
| Interest coverage | 4.7 | 1.6 | 2.3 | 0.3 | 1.4 | 6.3 | 7.4 | 0.2 |
| Asset turnover | — | — | 1.33 | — | 1.8 | 2.37 | 2.17 | 1.85 |
| Return ratios | ||||||||
| Return on assets % | — | — | 3.3% | — | -4.5% | 17.7% | 22.6% | -0.8% |
| Return on capital employed % | — | — | 112% | — | -12.2% | -416.3% | 123.5% | 4.3% |
| Return on equity % | — | — | -7% | — | 7.4% | -44.2% | -377.9% | 14.8% |
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.