Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 61.4% | 44.5% | 35.7% | 32.6% | 38.1% | 39.7% |
| EBITDA margin % | 8.6% | -2.3% | 20.1% | 16.3% | 9.6% | -1.3% | -10.4% | 10% |
| EBIT margin % | 5.7% | -7.6% | 8.8% | 13.9% | 7.2% | -4.2% | -12.7% | 8% |
| PAT margin % | 0.2% | -17.4% | -61.4% | 15.7% | -3% | -7.7% | 59.7% | 9.9% |
| Working capital | ||||||||
| Receivable days | — | — | 28 | 17 | 19 | 8 | 3 | 6 |
| Inventory days | — | — | 2,154 | 422 | 394 | 526 | 514 | 436 |
| Payable days | — | — | 499 | 41 | 24 | 11 | 9 | 28 |
| NWC days | — | — | 1,683 | 398 | 389 | 523 | 508 | 413 |
| Leverage | ||||||||
| Current ratio | — | — | 1 | 1.36 | 1.39 | 1.64 | 5.36 | 10.07 |
| Debt to EBITDA | — | — | 11.38 | 3.13 | 6.21 | — | — | 0 |
| Debt to equity | — | — | 1.25 | 0.74 | 0.77 | 0.74 | 0 | 0 |
| Interest coverage | 1.2 | -0.1 | 0.4 | 2.6 | 1.1 | 0.3 | 29 | 761.5 |
| Asset turnover | — | — | 0.19 | 0.72 | 0.65 | 0.48 | 0.57 | 0.67 |
| Return ratios | ||||||||
| Return on assets % | — | — | -11.9% | 11.3% | -1.9% | -3.7% | 34.1% | 6.6% |
| Return on capital employed % | — | — | 4.9% | 24.4% | 8.6% | 2% | 51% | 7.4% |
| Return on equity % | — | — | -33.4% | 22.8% | -3.8% | -7% | 41.2% | 7.6% |
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.