Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 23.2% | 19.2% | 22.9% | 15.4% | 6.3% | 6.2% | 15.8% |
| EBITDA margin % | -6% | 7.3% | 2.2% | 5.8% | -11% | -25.3% | -1.7% | 2% |
| EBIT margin % | -8.2% | 5.2% | 0.4% | 3.2% | -14.6% | -29.5% | -3.6% | -0.6% |
| PAT margin % | 5.6% | 7.3% | 0.5% | 6.5% | -25.8% | -45% | -6.5% | 13.4% |
| Working capital | ||||||||
| Receivable days | 582 | 489 | 394 | 535 | 635 | 705 | 403 | 486 |
| Inventory days | 31 | 40 | 37 | 49 | 77 | 69 | 25 | 41 |
| Payable days | 372 | 444 | 360 | 430 | 425 | 480 | 352 | 574 |
| NWC days | 240 | 86 | 71 | 155 | 287 | 293 | 76 | -47 |
| Leverage | ||||||||
| Current ratio | — | 0.91 | 0.94 | 1.01 | 0.97 | 0.89 | 0.88 | 0.9 |
| Debt to EBITDA | — | 8.12 | 28.56 | 14.84 | — | — | — | 17.54 |
| Debt to equity | 0.47 | 0.53 | 0.61 | 0.63 | 0.8 | 1.03 | 0.94 | 0.41 |
| Interest coverage | 1.9 | 2.1 | 1.1 | 1.6 | -0.7 | -1.4 | -0.2 | 0.2 |
| Asset turnover | 0.24 | 0.27 | 0.27 | 0.2 | 0.15 | 0.13 | 0.35 | 0.23 |
| Return ratios | ||||||||
| Return on assets % | 1.3% | 2% | 0.1% | 1.3% | -3.8% | -6% | -2.3% | 3.2% |
| Return on capital employed % | — | 10.5% | 6% | 10.3% | -5% | -13% | -2.2% | 2.1% |
| Return on equity % | 3.4% | 6.6% | 0.5% | 4.7% | -15.4% | -32.5% | -14.8% | 15.8% |
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.