Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 69.1% | 89.7% | 89.1% | 90.3% | 90.6% | 89.6% | — | — |
| EBITDA margin % | 5.1% | 9.8% | 16.3% | 15.5% | 8.5% | 10.1% | — | — |
| EBIT margin % | 1.6% | 5.9% | 12.4% | 12.9% | 6.2% | 7% | — | — |
| PAT margin % | -6.6% | -20.8% | 6.9% | -3.7% | -3.3% | -8.9% | — | — |
| Working capital | ||||||||
| Receivable days | — | — | 42 | 33 | 37 | 43 | — | — |
| Inventory days | — | — | 140 | 151 | 198 | 224 | — | — |
| Payable days | — | — | 734 | 566 | 568 | 550 | — | — |
| NWC days | — | — | -552 | -382 | -333 | -284 | — | — |
| Leverage | ||||||||
| Current ratio | — | — | 0.62 | 0.86 | 0.95 | 1.12 | 0.5 | 1.37 |
| Debt to EBITDA | — | — | 4.65 | 3.09 | 5.75 | 5.42 | — | — |
| Debt to equity | — | — | 5.28 | 2.8 | 2.67 | 6.44 | 0 | 0 |
| Interest coverage | 0.4 | 0.7 | 1.6 | 1 | 0.7 | 0.7 | — | — |
| Asset turnover | — | — | 0.78 | 1.1 | 1.07 | 1.14 | 0 | 0 |
| Return ratios | ||||||||
| Return on assets % | — | — | 5.4% | -4% | -3.5% | -10.1% | 847.9% | -57.8% |
| Return on capital employed % | — | — | 18% | 22.1% | 12.4% | 12.8% | -2.4% | 7.9% |
| Return on equity % | — | — | 48.1% | -21.5% | -17.8% | -104.5% | 996.6% | -60% |
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.