Standalone figures
| Ratio | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 14.4% | 18.1% | 18.4% | 7% | 14.9% | 14.9% | — |
| EBITDA margin % | 4.4% | 2.3% | 5% | 7.3% | -9.1% | 1.5% | 5.4% | -2.5% |
| EBIT margin % | 2.9% | 1.3% | 3.7% | 7% | -9.3% | 1% | 5.1% | -3.2% |
| PAT margin % | 1.5% | 1.3% | 3.6% | 6.9% | -11.1% | 2.5% | 3% | 0% |
| Working capital | ||||||||
| Receivable days | — | 33 | 63 | 34 | 26 | 49 | 85 | — |
| Inventory days | — | 55 | 86 | 65 | 40 | 23 | 60 | — |
| Payable days | — | 37 | 33 | 28 | 45 | 33 | 38 | — |
| NWC days | — | 52 | 116 | 72 | 21 | 39 | 107 | — |
| Leverage | ||||||||
| Current ratio | — | 2.36 | 2.28 | 1.84 | 1.29 | 2.15 | 1.18 | — |
| Debt to EBITDA | — | 9.11 | 6.78 | 2.15 | — | 1.79 | 4.76 | — |
| Debt to equity | — | 476.67 | 9 | 1.74 | 6.6 | 0.12 | 2.49 | — |
| Interest coverage | 2.8 | 4.9 | 9.2 | 20.4 | -25 | 3.8 | 4.2 | 1.1 |
| Asset turnover | — | 3.32 | 2.15 | 3.17 | 4.24 | 2.74 | 2.12 | — |
| Return ratios | ||||||||
| Return on assets % | — | 4.2% | 7.7% | 21.9% | -47.1% | 6.9% | 6.4% | — |
| Return on capital employed % | — | 7.2% | 13.4% | 44.9% | -59% | 10.9% | 50.3% | — |
| Return on equity % | — | 2,933.3% | 95.6% | 77% | -809.3% | 11.9% | 28.9% | — |
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.