Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 34.3% | 41.5% | 45.7% | 39.7% | ||||
| 37.5% |
| 42.4% |
| 46.1% |
| -17.5% |
| EBITDA margin % | 8.9% | 9.5% | 6.8% | 8% | 9.4% | -31.6% | -16.7% | -219.1% |
| EBIT margin % | 4.4% | 3% | -1.5% | 1.7% | 4.1% | -37.1% | -21.1% | -231% |
| PAT margin % | 5.1% | 5.9% | 2.4% | 31.1% | 3.3% | 12.3% | 95.5% | 54.6% |
| Working capital | ||||||||
| Receivable days | — | — | 115 | 93 | 74 | 136 | 105 | 398 |
| Inventory days | — | — | 207 | 132 | 109 | 263 | 157 | 143 |
| Payable days | — | — | 81 | 61 | 56 | 95 | 118 | 223 |
| NWC days | — | — | 241 | 164 | 128 | 304 | 143 | 318 |
| Leverage | ||||||||
| Current ratio | — | — | 1.48 | 1.73 | 2.13 | 1.11 | 4.6 | 5.98 |
| Debt to EBITDA | — | — | 6.92 | 3.15 | 3.13 | — | — | — |
| Debt to equity | — | — | 0.23 | 0.13 | 0.18 | 0.2 | 0.01 | 0 |
| Interest coverage | 4.9 | 3.7 | 0.5 | 2.5 | 3.2 | -1 | 0.1 | 22.6 |
| Asset turnover | — | — | 0.36 | 0.4 | 0.47 | 0.07 | 0.12 | 0.02 |
| Return ratios | ||||||||
| Return on assets % | — | — | 0.9% | 12.5% | 1.5% | 0.9% | 11.4% | 0.8% |
| Return on capital employed % | — | — | 0.8% | 3.1% | 3.3% | -1.3% | 0.1% | 1.3% |
| Return on equity % | — | — | 1.2% | 15.5% | 2% | 1.2% | 12.2% | 0.9% |
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.