Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 29.8% | 29.8% | 30.3% | 26.5% | 26.6% | 31.3% | 41.2% | 35.3% |
| EBITDA margin % | 6.3% | 2.3% | 7.2% | 6.7% | 9.1% | 11.4% | 19.4% | 14.7% |
| EBIT margin % | 0.9% | -4.2% | -2.3% | 2.1% | 5.5% | 1.8% | 7.9% | 4.7% |
| PAT margin % | -0% | -5.1% | 0.8% | 1.6% | 15.4% | 5.4% | 2.4% | -2.5% |
| Working capital | ||||||||
| Receivable days | — | — | 126 | 62 | 32 | 51 | 54 | 48 |
| Inventory days | — | — | 73 | 50 | 61 | 48 | 100 | 116 |
| Payable days | — | — | 97 | 48 | 35 | 45 | 69 | 66 |
| NWC days | — | — | 102 | 63 | 58 | 55 | 86 | 98 |
| Leverage | ||||||||
| Current ratio | — | — | 1.05 | 0.72 | 0.83 | 2.51 | 2.33 | 2.17 |
| Debt to EBITDA | — | — | 23.19 | 12.4 | 4.49 | 3.77 | 2.71 | 3.92 |
| Debt to equity | — | — | -5.19 | -5.35 | 0.32 | 0.29 | 0.3 | 0.39 |
| Interest coverage | 10 | -17.1 | 1.1 | 4.3 | 7.7 | 2 | 1 | 0.6 |
| Asset turnover | — | — | 0.56 | 1.04 | 0.44 | 0.41 | 0.34 | 0.38 |
| Return ratios | ||||||||
| Return on assets % | — | — | 0.4% | 1.6% | 6.8% | 2.2% | 0.8% | -0.9% |
| Return on capital employed % | — | — | 0.9% | 5.3% | 5.7% | 1% | 3.1% | 2.2% |
| Return on equity % | — | — | -2.4% | -10.1% | 12.1% | 3.6% | 1.4% | -1.6% |
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.