Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 36.7% | 33.4% | 41.1% | 28.5% | 24.4% | 37.3% | 40.5% | 34.5% |
| EBITDA margin % | 31.6% | 27% | 35.1% | 24.1% | 19.3% | 33.1% | 34% | 24.4% |
| EBIT margin % | 18.9% | 12.4% | 20.5% | 13.7% | 11.3% | 26.2% | 25.3% | 15.9% |
| PAT margin % | -10.1% | -106.7% | 11.1% | 2.4% | 1% | 10.2% | 14.8% | 7.9% |
| Working capital | ||||||||
| Receivable days | 48 | 40 | 87 | 73 | 74 | 64 | 63 | 72 |
| Inventory days | 27 | 57 | 38 | 57 | 59 | 45 | 65 | 49 |
| Payable days | 47 | 37 | 42 | 37 | 35 | 0 | 25 | 28 |
| NWC days | 27 | 60 | 83 | 94 | 98 | 109 | 104 | 93 |
| Leverage | ||||||||
| Current ratio | 0.6 | 0.64 | 1.02 | 1.16 | 1.19 | 1.82 | 2.41 | 2.7 |
| Debt to EBITDA | 7.36 | 6.23 | 4.51 | 4.55 | 4.26 | 1.9 | 2.03 | 2.49 |
| Debt to equity | 0.97 | 0.86 | 0.49 | 0.47 | 0.44 | 0.37 | 0.31 | 0.27 |
| Interest coverage | 0.6 | 0.7 | 1.4 | 1.6 | 1.4 | 4.8 | 3.9 | 3 |
| Asset turnover | 0.16 | 0.19 | 0.19 | 0.26 | 0.33 | 0.39 | 0.31 | 0.31 |
| Return ratios | ||||||||
| Return on assets % | -1.6% | -19.8% | 2.1% | 0.6% | 0.3% | 4% | 4.6% | 2.5% |
| Return on capital employed % | 4.9% | 3% | 5.2% | 5.5% | 5.1% | 14.1% | 10.3% | 6.8% |
| Return on equity % | -4.2% | -54.5% | 3.5% | 1% | 0.5% | 6% | 6.6% | 3.5% |
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.