Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 74.4% | 19.9% | 17.9% | -4.8% | 13.6% | 17.2% | 10.2% | 8.4% |
| EBITDA margin % | 15.7% | 12.5% | 11.5% | -12.2% | -64.5% | 6.9% | 0.6% | 1.2% |
| EBIT margin % | 13.8% | 9.8% | 9.3% | -14.6% | -70.1% | -0.4% | -9% | -2.2% |
| PAT margin % | 6.1% | -11.2% | 1.5% | -29.9% | -140.2% | -7.8% | -15.3% | 241.7% |
| Working capital | ||||||||
| Receivable days | 181 | 161 | 142 | 137 | 296 | 481 | 711 | 207 |
| Inventory days | 147 | 83 | 93 | 71 | 58 | 96 | 125 | 61 |
| Payable days | 366 | 145 | 164 | 111 | 185 | 286 | 408 | 146 |
| NWC days | -38 | 99 | 71 | 98 | 169 | 291 | 429 | 122 |
| Leverage | ||||||||
| Current ratio | 1.6 | 1.41 | 1.15 | 0.79 | 0.5 | 0.51 | 0.5 | 1.55 |
| Debt to EBITDA | 3.05 | 4.05 | 3.79 | — | — | 78.96 | 1,439.67 | 107.1 |
| Debt to equity | 1.25 | 1.83 | 1.7 | 34.2 | -2.63 | -2.63 | -2.46 | 1.94 |
| Interest coverage | 1.9 | 1.2 | 1.2 | -1.3 | -2.2 | 14.8 | -1 | 6.3 |
| Asset turnover | 0.59 | 0.61 | 0.69 | 0.63 | 0.28 | 0.19 | 0.13 | 0.37 |
| Return ratios | ||||||||
| Return on assets % | 3.6% | -6.9% | 1% | -18.9% | -39.8% | -1.5% | -2% | 88.5% |
| Return on capital employed % | 14.9% | 10.7% | 14.7% | -30.4% | 394.2% | -2.9% | 1.6% | 9.7% |
| Return on equity % | 15.9% | -40.8% | 5.7% | -1,218.6% | 105.7% | 3.8% | 4.7% | 353.5% |
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.