Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 89.8% | 89.1% | 87.2% | 89.8% | 88.9% | 89% | 90% | 89.5% |
| EBITDA margin % | 19.7% | -5.2% | -149.7% | 2% | 34.1% | 37.1% | 43% | 31.4% |
| EBIT margin % | -22.7% | -126.5% | -585.1% | -124.9% | 54.3% | 6.6% | 21.3% | 6.6% |
| PAT margin % | -144.5% | -202% | -1,214.2% | -350% | 142.7% | 208% | 19% | 5.6% |
| Working capital | ||||||||
| Receivable days | 14 | 9 | 33 | 17 | 7 | 6 | 9 | 6 |
| Inventory days | 1,739 | 216 | 1,492 | 578 | 196 | 204 | 174 | 186 |
| Payable days | 409 | — | 4,162 | 1,232 | 296 | 300 | 235 | 243 |
| NWC days | 1,344 | — | -2,636 | -637 | -94 | -90 | -53 | -50 |
| Leverage | ||||||||
| Current ratio | 0.12 | 0.03 | 0.02 | 0.02 | 0.16 | 0.48 | 0.59 | 0.43 |
| Debt to EBITDA | 22.67 | — | — | 743.1 | 9.45 | 2.62 | 0.95 | 2.37 |
| Debt to equity | 23.07 | -3.14 | -1.77 | -1.26 | 3.42 | 0.32 | 0.13 | 0.2 |
| Interest coverage | -0.4 | -1.7 | -0.6 | -0.3 | 4.2 | 22.8 | 9.1 | 2.5 |
| Asset turnover | 0.18 | 0.19 | 0.02 | 0.08 | 0.23 | 0.24 | 0.21 | 0.2 |
| Return ratios | ||||||||
| Return on assets % | -26.7% | -39% | -28.2% | -28.8% | 32.3% | 49.3% | 4% | 1.1% |
| Return on capital employed % | -7.1% | 172.4% | 17.1% | 7.5% | 48.8% | 5.7% | 8% | 2.9% |
| Return on equity % | -747.2% | 117.9% | 43.9% | 29.4% | 151.8% | 68.1% | 5.9% | 1.5% |
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.