Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 44.3% | 23.3% | 19.1% | 19.2% | 21.2% |
| EBITDA margin % | -17.3% | -49.3% | — | 11% | 11.3% | 13.2% | 12.1% | 13% |
| EBIT margin % | -19.4% | -50% | — | -2.5% | 8% | 11% | 8.7% | 8.5% |
| PAT margin % | 0% | -33.3% | — | -2.1% | 4.4% | 7.9% | 5.6% | 4.1% |
| Working capital | ||||||||
| Receivable days | — | — | — | 48 | 123 | 50 | 109 | 191 |
| Inventory days | — | — | — | 369 | 42 | 37 | 11 | 40 |
| Payable days | — | — | — | 129 | 15 | 37 | 74 | 121 |
| NWC days | — | — | — | 288 | 150 | 50 | 45 | 110 |
| Leverage | ||||||||
| Current ratio | — | — | — | 0.97 | 1.43 | 2.06 | 1.81 | 1.72 |
| Debt to EBITDA | — | — | — | 4.88 | 2.58 | 1.89 | 1.09 | 1.78 |
| Debt to equity | — | — | — | 1.15 | 0.4 | 0.41 | 0.28 | 0.27 |
| Interest coverage | — | — | — | 0.7 | 2.9 | 8.4 | 6 | 2.8 |
| Asset turnover | — | — | — | 0.52 | 0.67 | 0.96 | 1.21 | 0.68 |
| Return ratios | ||||||||
| Return on assets % | — | — | — | -1.1% | 2.9% | 7.6% | 6.8% | 2.8% |
| Return on capital employed % | — | — | — | 4% | 15.3% | 19.8% | 17.5% | 11.7% |
| Return on equity % | — | — | — | -4.5% | 5.9% | 13.2% | 12% | 4.9% |
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.