Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 59.1% | 30.2% | 30.1% | 27.6% | 22.8% | 24.3% | 27.3% | 25.4% |
| EBITDA margin % | 6% | 1.9% | 7.3% | 9.2% | 2.8% | 1.2% | 5.8% | 6.3% |
| EBIT margin % | 1.5% | -3.9% | 1.6% | 5.9% | -0.3% | -2.5% | 2.9% | 3.6% |
| PAT margin % | 1.7% | -0.2% | -1% | 3.9% | 0.9% | -0.2% | -5.6% | 3.9% |
| Working capital | ||||||||
| Receivable days | — | — | 79 | 64 | 46 | 49 | 57 | 55 |
| Inventory days | — | — | 59 | 40 | 37 | 47 | 44 | 42 |
| Payable days | — | — | 83 | 67 | 44 | 67 | 59 | 69 |
| NWC days | — | — | 55 | 38 | 39 | 29 | 42 | 28 |
| Leverage | ||||||||
| Current ratio | — | — | 1.25 | 1.44 | 1.44 | 1.14 | 0.93 | 1.05 |
| Debt to EBITDA | — | — | 4.36 | 1.63 | 6.6 | 20.8 | 5.01 | 3.34 |
| Debt to equity | — | — | 0.2 | 0.15 | 0.19 | 0.22 | 0.33 | 0.29 |
| Interest coverage | 3.1 | 0.5 | 0.9 | 5.4 | 1.9 | 0.9 | 2.1 | 3 |
| Asset turnover | — | — | 0.45 | 0.72 | 0.74 | 0.61 | 0.69 | 0.83 |
| Return ratios | ||||||||
| Return on assets % | — | — | -0.4% | 2.8% | 0.7% | -0.1% | -3.9% | 3.3% |
| Return on capital employed % | — | — | 1.5% | 6.6% | 2.4% | 1.4% | 4.5% | 7.6% |
| Return on equity % | — | — | -0.6% | 3.9% | 0.9% | -0.2% | -6.3% | 5.4% |
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.