Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 91.4% | 55% | 54.8% | 51.2% | 90% |
| EBITDA margin % | 1% | -7% | 9.8% | 15.2% | 17.2% | 10.2% | 2.8% | -4.8% |
| EBIT margin % | -2.4% | -11.7% | 6.5% | 12.9% | 13.4% | 6.3% | -3% | -11.6% |
| PAT margin % | 0.3% | -3.8% | 5.8% | 10.8% | 12.6% | 9.2% | 20.9% | 26.9% |
| Working capital | ||||||||
| Receivable days | 90 | 67 | 79 | — | 55 | 45 | 52 | 49 |
| Inventory days | 70 | 75 | 86 | — | 103 | 143 | 150 | 672 |
| Payable days | 21 | 28 | — | — | 37 | 42 | 47 | — |
| NWC days | 139 | 114 | — | — | 121 | 146 | 155 | — |
| Leverage | ||||||||
| Current ratio | 7.92 | 3.25 | 2.95 | — | 2.78 | 4.9 | 3.45 | 4.09 |
| Debt to EBITDA | 3.2 | — | 1.1 | — | 0.64 | 0.57 | 3.37 | — |
| Debt to equity | 0.02 | 0.09 | 0.1 | — | 0.11 | 0.05 | 0.08 | 0.05 |
| Interest coverage | 2.1 | -0.9 | 8.6 | 18.1 | 21.3 | 13 | 20.2 | 23.8 |
| Asset turnover | 0.65 | 0.58 | 0.75 | — | 0.78 | 0.73 | 0.69 | 0.58 |
| Return ratios | ||||||||
| Return on assets % | 0.2% | -2.2% | 4.3% | — | 9.9% | 6.7% | 14.5% | 15.7% |
| Return on capital employed % | 2.3% | -1.5% | 10.3% | — | 15.1% | 9.9% | 16.7% | 19.8% |
| Return on equity % | 0.2% | -2.7% | 5.4% | — | 12% | 7.7% | 17.8% | 18.8% |
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.