Standalone figures
| Ratio | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 93.7% | — | 90.3% | 95.1% | 82.6% | 89.4% | 91.5% | 90.5% |
| EBITDA margin % | 8% | 11.6% | 39.9% | 15.2% | 2.4% | 11.2% | 10% | 1.1% |
| EBIT margin % | 2.2% | 0.8% | 34.4% | 7.2% | -3.6% | 4.9% | 4.8% | -2.3% |
| PAT margin % | 0.8% | -9.2% | 15.7% | 1.1% | -6.5% | 9.9% | 0.5% | -9.8% |
| Working capital | ||||||||
| Receivable days | — | — | — | — | 14 | 11 | 17 | 7 |
| Inventory days | — | — | — | — | 294 | 675 | 861 | 497 |
| Payable days | — | — | — | — | 236 | 456 | 563 | 350 |
| NWC days | — | — | — | — | 72 | 230 | 315 | 155 |
| Leverage | ||||||||
| Current ratio | — | — | — | — | 3.12 | 1.46 | 1.62 | 1.39 |
| Debt to EBITDA | — | — | — | — | 17.4 | 3.57 | 9.16 | 61.12 |
| Debt to equity | — | — | — | — | 0.12 | 0.11 | 0.22 | 0.1 |
| Interest coverage | 1.8 | 0.3 | 10.3 | 1.4 | -0.6 | 4 | 1.2 | 0.3 |
| Asset turnover | — | — | — | — | 0.24 | 0.24 | 0.19 | 0.11 |
| Return ratios | ||||||||
| Return on assets % | — | — | — | — | -1.6% | 2.3% | 0.1% | -1.1% |
| Return on capital employed % | — | — | — | — | -0.6% | 4.4% | 1.4% | 0.3% |
| Return on equity % | — | — | — | — | -1.8% | 2.8% | 0.1% | -1.5% |
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.