Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 61.2% | 61.6% | 69.9% | 72% | 75.5% | 73.3% |
| EBITDA margin % | -3% | 2.8% | 5.4% | 7.7% | 9.9% | 15.7% |
| EBIT margin % | -9.9% | -2% | 4.5% | 4.9% | 1.5% | 6.5% |
| PAT margin % | 1.9% | 0.8% | 4.4% | 3.9% | 2.7% | 7.3% |
| Working capital | ||||||
| Receivable days | 119 | 71 | 38 | 24 | 23 | 35 |
| Inventory days | 97 | 77 | 37 | 63 | 80 | 75 |
| Payable days | 286 | 195 | 153 | 156 | 143 | 168 |
| NWC days | -70 | -47 | -78 | -69 | -40 | -58 |
| Leverage | ||||||
| Current ratio | 2.26 | 0.87 | 1.13 | 1.59 | 1.65 | 0.55 |
| Debt to EBITDA | — | 6.82 | 1.57 | 14.59 | 11.24 | 5.85 |
| Debt to equity | 0.15 | 0.09 | 0.12 | 1.01 | 0.59 | 0.46 |
| Interest coverage | 1.6 | 1.5 | 6.9 | 5.1 | 2.1 | 3.2 |
| Asset turnover | 0.31 | 0.32 | 0.95 | 0.37 | 0.29 | 0.29 |
| Return ratios | ||||||
| Return on assets % | 0.6% | 0.2% | 4.2% | 1.5% | 0.8% | 2.1% |
| Return on capital employed % | 1.9% | 1.4% | 9.7% | 4.8% | 2.8% | 5.6% |
| Return on equity % | 0.9% | 0.3% | 6% | 3.6% | 1.4% | 3.6% |
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.