Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 79.4% | ||||
| 69.8% |
| 63.5% |
| — |
| 30.6% |
| EBITDA margin % | 7.7% | -1.9% | -6.1% | 2.3% | 0.7% | -14.4% | — | -1,204.1% |
| EBIT margin % | 7.7% | -2.7% | -7.5% | 1.7% | 0.1% | -15.7% | — | -1,293.2% |
| PAT margin % | 3.3% | 3.5% | 0.3% | 6.9% | 7.1% | -22.7% | — | -1,006.8% |
| Working capital | ||||||||
| Receivable days | 12 | 13 | 56 | 33 | 60 | 105 | — | 7,377 |
| Inventory days | 16 | 7 | 5 | 68 | 50 | 20 | — | 594 |
| Payable days | — | — | — | 75 | 121 | 155 | — | 13,931 |
| NWC days | — | — | — | 27 | -12 | -30 | — | -5,960 |
| Leverage | ||||||||
| Current ratio | 0.61 | 0.7 | 0.81 | 1.28 | 1.47 | 1.26 | 0.55 | 0.43 |
| Debt to EBITDA | 1.68 | — | — | 1.05 | 2.9 | — | — | — |
| Debt to equity | 0.34 | 0.07 | 0.04 | 0.04 | 0.03 | 0.04 | 0.1 | 0.11 |
| Interest coverage | 2.4 | 5.4 | -2 | 29.2 | 4 | -8.1 | 3.5 | -3.7 |
| Asset turnover | 1.32 | 1.26 | 0.68 | 1.23 | 1.27 | 0.77 | — | 0.01 |
| Return ratios | ||||||||
| Return on assets % | 4.4% | 4.5% | 0.2% | 8.4% | 9% | -17.5% | -27.4% | -7.8% |
| Return on capital employed % | 22.5% | 14.1% | -4.5% | 19.9% | 2% | -12.4% | 6.9% | -19.6% |
| Return on equity % | 8.7% | 7% | 0.3% | 10.8% | 12.1% | -22.8% | -49.3% | -16.9% |
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.