Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 30.8% | 37.7% | 44% | 38.7% | 33.9% | 34.8% | 34.1% | 34.7% |
| EBITDA margin % | 11.6% | 18.4% | 27% | 24.4% | 17% | 5.1% | -0.8% | -80.8% |
| EBIT margin % | 8.8% | 15.1% | 23.5% | 21.8% | 13.5% | -6% | -8.6% | -87.7% |
| PAT margin % | -9.6% | 13.6% | 19.3% | 20.4% | 70.5% | 57.4% | 57.1% | -290.7% |
| Working capital | ||||||||
| Receivable days | 14 | 14 | 9 | 13 | 21 | 102 | 104 | 35 |
| Inventory days | 69 | 96 | 112 | 91 | 21 | 113 | 147 | 143 |
| Payable days | 37 | 0 | 43 | 29 | 0 | 69 | 98 | 100 |
| NWC days | 46 | 109 | 78 | 75 | 41 | 147 | 153 | 78 |
| Leverage | ||||||||
| Current ratio | 1.7 | 1.77 | 2.11 | 2.07 | 11.09 | 11.28 | 9.65 | 7.04 |
| Debt to EBITDA | 2.06 | 0.37 | 0.67 | 0.77 | 1.8 | 24.63 | — | — |
| Debt to equity | 0.6 | 0.13 | 0.28 | 0.29 | 0.14 | 0.12 | 0.1 | 0.13 |
| Interest coverage | 10.3 | 11.3 | 19.1 | 56.1 | 20.8 | 9.3 | 9 | 1.9 |
| Asset turnover | 1.04 | 0.82 | 0.86 | 0.9 | 0.38 | 0.08 | 0.09 | 0.13 |
| Return ratios | ||||||||
| Return on assets % | -9.9% | 11.1% | 16.6% | 18.4% | 26.6% | 4.3% | 5.1% | -38.6% |
| Return on capital employed % | 15.8% | 20.1% | 30.6% | 34.1% | 15.9% | 7.2% | 5.9% | 2.2% |
| Return on equity % | -24.2% | 26.6% | 30.4% | 31.7% | 31.7% | 5.4% | 6.2% | -49.5% |
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.