Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 3% | 12.7% | 14.7% | 11.2% | 15% | 14% |
| EBITDA margin % | 1% | -0.8% | -12.2% | -1.1% | 4.3% | 1.5% | 2.4% | 2.2% |
| EBIT margin % | 0.5% | -1.7% | -13.5% | -1.4% | 3.9% | 1.1% | 1.8% | 1.7% |
| PAT margin % | -0.7% | -1.3% | -18.5% | -0.2% | 2.3% | 0.2% | 0.6% | 1.4% |
| Working capital | ||||||||
| Receivable days | 87 | 108 | 149 | 76 | 95 | 91 | 36 | 48 |
| Inventory days | 10 | 4 | 80 | 18 | 15 | 11 | 25 | 68 |
| Payable days | — | — | 53 | 11 | 6 | 11 | 13 | 20 |
| NWC days | — | — | 176 | 82 | 105 | 90 | 48 | 97 |
| Leverage | ||||||||
| Current ratio | 1.42 | — | 1.14 | 1.13 | 1.2 | 1.26 | 1.66 | 1.01 |
| Debt to EBITDA | 30.81 | — | — | — | 6.72 | 15.51 | 4.85 | 12.89 |
| Debt to equity | 1.28 | 1.15 | 1.99 | 5.13 | 4.08 | 2.69 | 0.94 | 2.07 |
| Interest coverage | 0.3 | 0.4 | -3.3 | 0.7 | 3.2 | 1.1 | 1.6 | 2.6 |
| Asset turnover | 1.31 | 0.95 | 0.63 | 2.25 | 2.53 | 2.73 | 3.37 | 1.88 |
| Return ratios | ||||||||
| Return on assets % | -0.9% | -1.2% | -11.7% | -0.5% | 5.8% | 0.5% | 1.9% | 2.7% |
| Return on capital employed % | 1.6% | — | -22.6% | 6.5% | 67.2% | 20.9% | 25.1% | 24.6% |
| Return on equity % | -2.9% | -3.6% | -50.8% | -3.6% | 32.3% | 2.2% | 4.5% | 10.2% |
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.