Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 16.4% | — | 13.6% | 8.6% | 19.7% | 34.8% |
| EBITDA margin % | 2.6% | 0.8% | 1.8% | 1.1% | 0.5% | -4.7% | 1.1% | -7.4% |
| EBIT margin % | 1.3% | -0.3% | 0.9% | 0.5% | -0.4% | -5.5% | 0.2% | -8.4% |
| PAT margin % | -0.7% | -1.9% | 0.3% | -1.7% | -1.1% | -6.4% | -0.3% | -11.3% |
| Working capital | ||||||||
| Receivable days | 76 | 72 | 38 | 31 | 29 | 61 | 74 | 76 |
| Inventory days | 131 | 131 | 187 | 131 | 104 | 98 | 116 | 120 |
| Payable days | 126 | 109 | 141 | 119 | 82 | 123 | 161 | 137 |
| NWC days | 81 | 94 | 84 | 44 | 52 | 36 | 30 | 58 |
| Leverage | ||||||||
| Current ratio | 1.37 | 1.41 | 1.27 | 1.2 | 1.23 | 1.05 | 1.1 | 1.78 |
| Debt to EBITDA | 2.9 | 14.31 | 5.53 | 4.99 | 15.78 | — | 12.45 | — |
| Debt to equity | 0.22 | 0.3 | 0.34 | 0.33 | 0.42 | 0.8 | 0.81 | 0.31 |
| Interest coverage | 0.8 | 0 | 0.6 | 0.8 | -0.1 | -3.1 | 0.8 | -2.7 |
| Asset turnover | 1.19 | 1.18 | 1.33 | 1.69 | 2.1 | 1.7 | 1.41 | 1.26 |
| Return ratios | ||||||||
| Return on assets % | -0.8% | -2.2% | 0.3% | -2.8% | -2.4% | -10.9% | -0.4% | -14.3% |
| Return on capital employed % | 4.9% | 0.2% | 3.6% | 4.8% | -0.7% | -26% | 8.2% | -20.6% |
| Return on equity % | -2% | -5.3% | 0.8% | -9.9% | -6.5% | -48.4% | -1.8% | -31.4% |
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.