Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 36% | 39.9% | 47.1% | 47.6% | 45.3% |
| EBITDA margin % | -1.1% | 9.9% | 12% | 9.6% | 14.6% | 15.6% | 16.5% | 19.9% |
| EBIT margin % | -3.8% | 8% | 10.9% | 8.6% | 13.5% | 14.2% | 15.3% | 19.1% |
| PAT margin % | -7.1% | 9.2% | 9.2% | 7.6% | 14.1% | 45% | 54.2% | 33.4% |
| Working capital | ||||||||
| Receivable days | 148 | 117 | — | 43 | 34 | 70 | 57 | 53 |
| Inventory days | 50 | 119 | — | 79 | 68 | 86 | 75 | 85 |
| Payable days | — | 1 | — | 109 | 73 | 97 | 114 | 91 |
| NWC days | — | 235 | — | 13 | 30 | 60 | 18 | 47 |
| Leverage | ||||||||
| Current ratio | — | — | — | 1.83 | 1.94 | 2.18 | 3.99 | 4.93 |
| Debt to EBITDA | — | 7.3 | — | 1.14 | 2.24 | 5.98 | 3.9 | 1.91 |
| Debt to equity | 0.64 | 0.49 | — | 0.1 | 0.3 | 0.45 | 0.25 | 0.18 |
| Interest coverage | 0.6 | 1.5 | 4.9 | 6.7 | 9.6 | 9.2 | 14.3 | 11 |
| Asset turnover | 0.28 | 0.41 | — | 0.66 | 0.63 | 0.31 | 0.28 | 0.36 |
| Return ratios | ||||||||
| Return on assets % | -2% | 3.8% | — | 5% | 8.9% | 13.8% | 15.2% | 12% |
| Return on capital employed % | 2.4% | 6.4% | — | 13.2% | 18.1% | 32.6% | 36.8% | 22.8% |
| Return on equity % | -3.5% | 6.2% | — | 6.8% | 12.8% | 21.6% | 21.1% | 16.1% |
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.