Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 85.6% | 87.5% | — | — | — |
| EBITDA margin % | 24.5% | 31.6% | 32.1% | -23.8% | 15.7% | 33.1% | 35.5% | 36.6% |
| EBIT margin % | 7.3% | 15.7% | 15% | -79.6% | 1.1% | 25.6% | 28.7% | 30.1% |
| PAT margin % | -24.5% | -11.7% | -10.7% | -124.5% | -31.1% | -12.1% | 3.6% | 9.2% |
| Working capital | ||||||||
| Receivable days | — | — | — | 26 | 20 | 12 | 12 | — |
| Inventory days | — | — | — | 1,480 | 778 | 84 | 77 | — |
| Payable days | — | — | — | 1,166 | 394 | 51 | 57 | — |
| NWC days | — | — | — | 340 | 404 | 45 | 31 | — |
| Leverage | ||||||||
| Current ratio | — | — | — | 0.93 | 0.91 | 0.69 | 0.35 | — |
| Debt to EBITDA | — | — | — | — | 43.9 | 10.35 | 8.01 | — |
| Debt to equity | — | — | — | 1.89 | 2.2 | 2.28 | 2.09 | — |
| Interest coverage | 0.3 | 0.6 | 0.5 | -0.8 | 0.1 | 1.1 | 1.3 | 1.7 |
| Asset turnover | — | — | 0.19 | 0.05 | 0.1 | 0.19 | 0.22 | — |
| Return ratios | ||||||||
| Return on assets % | — | — | -2% | -5.7% | -3% | -2.3% | 0.8% | — |
| Return on capital employed % | — | — | — | -3.9% | 0.4% | 5.9% | 8.2% | — |
| Return on equity % | — | — | — | -17.5% | -9.9% | -8% | 2.6% | — |
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.