Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 21.7% | 24.3% | 3.1% | 13.7% | — | — | 28.1% |
| EBITDA margin % | 6% | -8.3% | -4.4% | -16.3% | -7.9% | 4.1% | 3.9% | -0.8% |
| EBIT margin % | 3.2% | -13% | -9.5% | -19.2% | -10.8% | 1.3% | 1.7% | -3% |
| PAT margin % | -2% | -17% | -22.5% | -27.7% | -19.9% | 21.7% | 1.3% | -3% |
| Working capital | ||||||||
| Receivable days | 108 | 135 | 125 | 83 | 78 | 38 | 65 | 62 |
| Inventory days | 143 | 311 | 360 | 109 | 105 | 54 | 76 | 142 |
| Payable days | 105 | 229 | 147 | 68 | 84 | 72 | 69 | 148 |
| NWC days | 146 | 218 | 338 | 124 | 99 | 20 | 73 | 56 |
| Leverage | ||||||||
| Current ratio | 1.16 | 0.93 | 0.77 | 0.51 | 0.39 | 1.3 | 1.24 | 1.12 |
| Debt to EBITDA | 6.27 | — | — | — | — | 2.86 | 0.16 | — |
| Debt to equity | 1.13 | 1.33 | 2.5 | -18.92 | -3.06 | 0.16 | 0.01 | 0.16 |
| Interest coverage | 0.5 | -0.8 | -0.6 | -1.9 | -1 | 0.2 | 3 | -1.2 |
| Asset turnover | 0.87 | 0.52 | 0.49 | 0.9 | 0.92 | 0.91 | 0.88 | 0.81 |
| Return ratios | ||||||||
| Return on assets % | -1.7% | -8.8% | -11% | -25% | -18.4% | 19.8% | 1.1% | -2.4% |
| Return on capital employed % | 6.9% | -12.6% | -13.7% | -117.8% | 47.3% | 4.4% | 2.5% | -2% |
| Return on equity % | -5.9% | -34.4% | -62.7% | 887.1% | 85.4% | 28.8% | 1.7% | -3.8% |
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.