Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 92.5% | 82.2% | 82.5% | 83.9% | 82.6% | 81.3% | 79% | 77.8% |
| EBITDA margin % | 11.3% | 11.6% | 18.2% | 9.8% | -3.2% | 2.2% | -9.4% | 8.9% |
| EBIT margin % | 6.9% | 6.7% | 12.7% | 5.1% | -7.2% | -2.2% | -15.2% | 2.2% |
| PAT margin % | 1.2% | -0.7% | 5% | 0.8% | -3.5% | -4.1% | -16.3% | 1.5% |
| Working capital | ||||||||
| Receivable days | — | — | — | 71 | 55 | 51 | 59 | 20 |
| Inventory days | — | — | — | 402 | 302 | 245 | 236 | 269 |
| Payable days | — | — | — | 621 | 518 | 481 | 413 | 317 |
| NWC days | — | — | — | -147 | -161 | -185 | -118 | -28 |
| Leverage | ||||||||
| Current ratio | — | — | — | 0.86 | 1.13 | 0.92 | 0.94 | 0.91 |
| Debt to EBITDA | — | — | — | 6.64 | — | 23.92 | — | 3.28 |
| Debt to equity | — | — | — | 0.53 | 0.52 | 0.48 | 0.12 | 0.13 |
| Interest coverage | 1.3 | 1.1 | 2.2 | 1.3 | -1.5 | -0.2 | -2.1 | 2 |
| Asset turnover | — | — | — | 0.4 | 0.48 | 0.47 | 0.3 | 0.34 |
| Return ratios | ||||||||
| Return on assets % | — | — | — | 0.3% | -1.7% | -1.9% | -4.9% | 0.5% |
| Return on capital employed % | — | — | — | 2.8% | -4% | -0.7% | -5.8% | 1.6% |
| Return on equity % | — | — | — | 0.7% | -3.4% | -3.8% | -6.9% | 0.7% |
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.