Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 66.3% | 71.1% | 72.1% | 73.1% | 70.8% | 72% |
| EBITDA margin % | 6.6% | 5.9% | 0.3% | 13.6% | 7.2% | 6.6% | -17.3% | -26.9% |
| EBIT margin % | 5.3% | 4.5% | -1.6% | 12.2% | 6.2% | 5.6% | -20.3% | -31.1% |
| PAT margin % | 1.6% | 1.8% | -11.5% | 1.6% | 4.6% | -0.4% | -19% | -17.2% |
| Working capital | ||||||||
| Receivable days | — | — | 83 | 68 | 70 | 84 | 116 | 136 |
| Inventory days | — | — | 238 | 213 | 200 | 243 | 176 | 146 |
| Payable days | — | — | 126 | 122 | 124 | 115 | 90 | 134 |
| NWC days | — | — | 195 | 159 | 146 | 212 | 202 | 148 |
| Leverage | ||||||||
| Current ratio | — | — | 1.25 | 0.5 | 0.85 | 2.02 | 0.86 | 0.93 |
| Debt to EBITDA | — | — | 550.17 | 8.09 | 13.81 | 12.3 | — | — |
| Debt to equity | — | — | 6.57 | 5.44 | 4.33 | 1.41 | 2.15 | 1.94 |
| Interest coverage | 1.2 | 2 | -0.1 | 1.2 | 0.9 | 1.1 | -2.4 | -1.2 |
| Asset turnover | — | — | 0.45 | 0.61 | 0.64 | 0.59 | 0.61 | 0.61 |
| Return ratios | ||||||||
| Return on assets % | — | — | -5.1% | 1% | 2.9% | -0.2% | -11.6% | -10.6% |
| Return on capital employed % | — | — | -0.7% | 12% | 7.1% | 5.1% | -14% | -20.6% |
| Return on equity % | — | — | -49.3% | 7.9% | 19.9% | -0.6% | -54.9% | -40.8% |
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.