Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 55.7% | 68.6% | 60.7% | 58.6% | 54.3% | 57.2% |
| EBITDA margin % | -2% | 8.8% | -15.4% | -31% | -9.7% | -12.8% |
| EBIT margin % | -7.8% | 6.3% | -18.6% | -34% | -12.4% | -17.4% |
| PAT margin % | 24.8% | 55.2% | 28.2% | 45.4% | 23.2% | 24.6% |
| Working capital | ||||||
| Receivable days | 160 | 47 | 98 | 131 | 41 | 98 |
| Inventory days | 188 | 450 | 207 | 255 | 164 | 186 |
| Payable days | 64 | 103 | 16 | 78 | 80 | 47 |
| NWC days | 283 | 394 | 289 | 307 | 125 | 237 |
| Leverage | ||||||
| Current ratio | 4.61 | 9.49 | 11.29 | 4.09 | 1.97 | 2.14 |
| Debt to EBITDA | — | 1.89 | — | — | — | — |
| Debt to equity | 0.04 | 0.02 | 0.02 | 0.05 | 0.05 | 0.1 |
| Interest coverage | 11.9 | 21.7 | 11.8 | 14 | 13.3 | 10.5 |
| Asset turnover | 0.23 | 0.11 | 0.12 | 0.14 | 0.22 | 0.16 |
| Return ratios | ||||||
| Return on assets % | 5.6% | 6.1% | 3.4% | 6.5% | 5.2% | 4.1% |
| Return on capital employed % | 8.5% | 11.8% | 5.4% | 5.8% | 6.3% | 7.1% |
| Return on equity % | 6.4% | 6.7% | 3.7% | 7.2% | 5.9% | 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.