Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 54.9% | 54.2% | 62.3% | 68.8% | 66.5% | 70% | 62.8% | 69.2% |
| EBITDA margin % | 6.2% | 2.4% | 6.9% | 6.5% | 5.1% | -0.1% | 4.9% | 5.2% |
| EBIT margin % | 3.8% | -0.2% | 3.9% | 4.1% | 2.9% | -3% | 2.6% | 2.8% |
| PAT margin % | -1.3% | -2.9% | -2.5% | 3.8% | 4.8% | -5% | 3.6% | 1.2% |
| Working capital | ||||||||
| Receivable days | 46 | 45 | 50 | 33 | 22 | 25 | 45 | 49 |
| Inventory days | 200 | 184 | 215 | 348 | 231 | 317 | 193 | 268 |
| Payable days | — | — | 158 | 206 | 117 | 164 | 117 | 182 |
| NWC days | — | — | 108 | 175 | 136 | 178 | 121 | 135 |
| Leverage | ||||||||
| Current ratio | 0.95 | 0.97 | 1.03 | 1.11 | 1.04 | 0.9 | 0.97 | 1.03 |
| Debt to EBITDA | 6.47 | 17.76 | 5.09 | 4.54 | 4.02 | — | 4.33 | 4.25 |
| Debt to equity | 1.06 | 1.03 | 0.58 | 0.43 | 0.32 | 0.3 | 0.32 | 0.32 |
| Interest coverage | 0.8 | 0.3 | 0.8 | 1.7 | 1.8 | -0.6 | 1.6 | 1.8 |
| Asset turnover | 0.87 | 0.84 | 0.73 | 0.71 | 0.88 | 0.73 | 0.87 | 0.8 |
| Return ratios | ||||||||
| Return on assets % | -1.1% | -2.4% | -1.8% | 2.7% | 4.3% | -3.7% | 3.2% | 0.9% |
| Return on capital employed % | 10% | 4% | 7.4% | 10.8% | 8.1% | -2.2% | 4.7% | 4.8% |
| Return on equity % | -3.3% | -7.2% | -4.1% | 5.5% | 7.6% | -6.6% | 5.6% | 1.7% |
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.