Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 25% | 17.7% | 20.7% | 28.3% | 22.3% | 18.8% |
| EBITDA margin % | 11.3% | 6.8% | 4.3% | 3.3% | -4.5% | 5.4% | 4.9% | 3.1% |
| EBIT margin % | 4.7% | 2.7% | 1.8% | 1% | -11.6% | 2.2% | 2.3% | -0.1% |
| PAT margin % | 3.9% | 2.7% | 3.4% | 1.6% | -10.5% | 2% | 2.7% | -0.5% |
| Working capital | ||||||||
| Receivable days | — | — | 10 | 0 | 14 | 9 | 4 | 44 |
| Inventory days | — | — | 47 | 21 | 94 | 57 | 43 | 7 |
| Payable days | — | — | 25 | 3 | 38 | 27 | 38 | 10 |
| NWC days | — | — | 32 | 19 | 70 | 39 | 9 | 42 |
| Leverage | ||||||||
| Current ratio | — | — | 1.13 | 1.25 | 0.74 | 0.77 | 0.88 | 0.94 |
| Debt to EBITDA | — | — | 1.3 | 1.92 | — | 2.36 | 1.84 | 8.95 |
| Debt to equity | — | — | 0.35 | 0.43 | 1.49 | 1.17 | 0.85 | 2.1 |
| Interest coverage | 2.7 | 5.8 | 9.5 | 4.7 | -2.8 | 2.4 | 3.9 | 0.5 |
| Asset turnover | — | — | 2.49 | 2.94 | 0.95 | 2.18 | 2.64 | 2.14 |
| Return ratios | ||||||||
| Return on assets % | — | — | 8.4% | 4.7% | -10% | 4.3% | 7.2% | -1.2% |
| Return on capital employed % | — | — | 19.4% | 11.6% | -16.8% | 16.1% | 19.2% | 1.8% |
| Return on equity % | — | — | 21.2% | 10.9% | -45.7% | 18.1% | 25.7% | -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.