Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 5.4% | 8.9% | ||||
| 25.6% |
| 22.8% |
| 33.3% |
| 28.6% |
| EBITDA margin % | -3.2% | -0.1% | 3.7% | 1.9% | 13.7% | 7.4% | 7.5% | 0.7% |
| EBIT margin % | -3.2% | -0.1% | 3.7% | 1.9% | 13.7% | 7.4% | 7.5% | 0.6% |
| PAT margin % | 0% | 0.3% | 3.8% | 2.5% | 10.5% | 5.3% | 6% | 0.4% |
| Working capital | ||||||||
| Receivable days | — | — | 4 | 0 | 4 | 103 | 62 | 72 |
| Inventory days | — | — | 54 | 259 | 159 | 4 | 4 | 10 |
| Payable days | — | — | 1 | 3 | 8 | 6 | 12 | 18 |
| NWC days | — | — | 58 | 256 | 155 | 100 | 54 | 64 |
| Leverage | ||||||||
| Current ratio | — | — | 77.5 | 158 | 3.13 | 9.8 | 10.51 | 2.06 |
| Debt to EBITDA | — | — | 0 | 0 | 0 | 0 | 0 | 0.78 |
| Debt to equity | — | — | 0 | 0 | 0 | 0 | 0 | 0.01 |
| Interest coverage | — | — | — | — | — | — | — | 22.5 |
| Asset turnover | — | — | 4.94 | 1 | 1.74 | 1.09 | 0.9 | 1.74 |
| Return ratios | ||||||||
| Return on assets % | — | — | 18.7% | 2.5% | 18.2% | 5.8% | 5.4% | 0.7% |
| Return on capital employed % | — | — | 19% | 3.2% | 37.1% | 14.9% | 11% | 1.6% |
| Return on equity % | — | — | 19% | 2.5% | 24.8% | 6.2% | 5.8% | 0.9% |
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.