Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 26.5% | 18.6% | 26.7% | 24.8% | 23.4% | 24.2% |
| EBITDA margin % | -12.9% | 2.3% | 6.2% | 6.9% | 10.9% | 12.5% |
| EBIT margin % | -14.8% | -0.9% | -1% | 1.7% | 7.1% | 9.4% |
| PAT margin % | -12.6% | 3.8% | 2.6% | 2.1% | 5.7% | 7.3% |
| Working capital | ||||||
| Receivable days | 62 | 53 | 64 | 51 | 62 | 56 |
| Inventory days | 35 | 12 | 16 | 15 | 12 | 15 |
| Payable days | 17 | — | 30 | 19 | 30 | 19 |
| NWC days | 79 | — | 50 | 47 | 44 | 52 |
| Leverage | ||||||
| Current ratio | 4.51 | 20.36 | 3.14 | 3.15 | 4 | 5.59 |
| Debt to EBITDA | — | — | 0 | 0 | 0 | 0 |
| Debt to equity | — | — | 0 | 0 | 0 | 0 |
| Interest coverage | -14 | 3.1 | 2.2 | 1.8 | 6.9 | 11 |
| Asset turnover | 0.12 | 0.12 | 0.17 | 0.36 | 0.51 | 0.59 |
| Return ratios | ||||||
| Return on assets % | -1.6% | 0.5% | 0.4% | 0.7% | 2.9% | 4.3% |
| Return on capital employed % | -1.5% | 1% | 1.2% | 1.2% | 4.6% | 6.7% |
| Return on equity % | -1.7% | 0.5% | 0.5% | 0.8% | 3.3% | 4.7% |
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.