Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 39.9% | 47.9% | 66.7% | 62.9% | 56.1% | 68.1% |
| EBITDA margin % | 8.9% | 2.4% | 1.5% | 5.5% | -5.5% | 17.3% |
| EBIT margin % | 4.8% | -2.4% | -3.7% | 0.6% | -8.9% | 14.6% |
| PAT margin % | 0.7% | -4.4% | -4.8% | -1.3% | -0.7% | -2.3% |
| Working capital | ||||||
| Receivable days | — | 127 | 113 | 95 | 73 | 54 |
| Inventory days | — | 241 | 565 | 449 | 272 | 339 |
| Payable days | — | 106 | 190 | 166 | 126 | 101 |
| NWC days | — | 261 | 488 | 378 | 219 | 292 |
| Leverage | ||||||
| Current ratio | — | 1.59 | 1.5 | 1.03 | 1.37 | 1.82 |
| Debt to EBITDA | — | 24.9 | 47.51 | 12.13 | — | 1.86 |
| Debt to equity | — | 0.38 | 0.37 | 0.36 | 0.22 | 0.26 |
| Interest coverage | 1.2 | 0.1 | 0.2 | 0.5 | -1.4 | 6 |
| Asset turnover | — | 0.39 | 0.31 | 0.33 | 0.42 | 0.51 |
| Return ratios | ||||||
| Return on assets % | — | -1.7% | -1.5% | -0.4% | -0.3% | -1.2% |
| Return on capital employed % | — | 0.3% | 0.7% | 1.7% | -3.4% | 10.8% |
| Return on equity % | — | -2.8% | -2.4% | -0.7% | -0.4% | -1.9% |
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.