Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 2.4% | 0.6% | 0.9% | 1.6% | ||||
| 3.4% |
| 2.7% |
| 1.6% |
| 3.8% |
| EBITDA margin % | 0.5% | -1.8% | -1.4% | -0% | -7.7% | -2.1% | -26.3% | -10.9% |
| EBIT margin % | 0.4% | -1.9% | -1.5% | -0.2% | -8.3% | -2.6% | -27% | -11.6% |
| PAT margin % | 0.6% | 1.4% | -0.3% | 0.5% | 0.5% | 4.3% | 17.6% | 10.6% |
| Working capital | ||||||||
| Receivable days | — | — | 247 | 63 | 195 | 161 | 148 | 190 |
| Inventory days | — | — | 1 | 3 | 7 | 5 | 9 | 4 |
| Payable days | — | — | 17 | 3 | 35 | 39 | 50 | 77 |
| NWC days | — | — | 231 | 63 | 167 | 127 | 107 | 117 |
| Leverage | ||||||||
| Current ratio | — | — | 2.17 | 5.38 | 5.53 | 5.11 | 2.23 | 2.18 |
| Debt to EBITDA | — | — | — | — | — | — | — | — |
| Debt to equity | — | — | 0.54 | 0.09 | 0.1 | 0.06 | 0.13 | 0.09 |
| Interest coverage | 1.5 | 2.4 | 0.9 | 1.4 | 1.6 | 4.2 | 11.5 | 3.5 |
| Asset turnover | — | — | 1.11 | 1.02 | 0.27 | 0.27 | 0.25 | 0.27 |
| Return ratios | ||||||||
| Return on assets % | — | — | -0.3% | 0.5% | 0.1% | 1.1% | 4.4% | 2.9% |
| Return on capital employed % | — | — | 3.1% | 3.4% | 0.8% | 1.7% | 6.2% | 2.2% |
| Return on equity % | — | — | -0.5% | 0.5% | 0.2% | 1.3% | 5.2% | 3.3% |
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.