Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 19.7% | 18.2% | ||||
| 9.9% |
| 7.8% |
| 9.8% |
| 6.6% |
| EBITDA margin % | 8.9% | 10.4% | 4.5% | 5.4% | 6.7% | 4.7% | 5.9% | 2.8% |
| EBIT margin % | 6.7% | 8.7% | 3% | 5.3% | 6.6% | 4.7% | 5.9% | 2.8% |
| PAT margin % | 3.5% | 5.5% | 2.7% | 4.3% | 4.2% | 4% | 5.1% | 9.8% |
| Working capital | ||||||||
| Receivable days | — | — | 45 | 50 | 99 | 114 | 201 | 176 |
| Inventory days | — | — | 1,638 | 2,775 | 653 | 644 | 438 | 262 |
| Payable days | — | — | 199 | 118 | 49 | 86 | 101 | 25 |
| NWC days | — | — | 1,484 | 2,707 | 703 | 672 | 539 | 412 |
| Leverage | ||||||||
| Current ratio | — | — | 1.42 | 1.64 | 1.58 | 1.17 | 1.76 | 6.27 |
| Debt to EBITDA | — | — | 38 | 70.76 | 33.18 | 31.86 | 12.1 | 5.87 |
| Debt to equity | — | — | 0.7 | 1.79 | 2.15 | 2.67 | 0.53 | 0.08 |
| Interest coverage | 1.4 | 2.8 | 6 | 3.9 | 1.5 | 25 | 2.6 | 11.7 |
| Asset turnover | — | — | 0.16 | 0.13 | 0.26 | 0.36 | 0.39 | 0.38 |
| Return ratios | ||||||||
| Return on assets % | — | — | 0.4% | 0.5% | 1.1% | 1.5% | 2% | 3.8% |
| Return on capital employed % | — | — | 2.1% | 3.1% | 10.6% | 3.7% | 12.9% | 8.7% |
| Return on equity % | — | — | 1.1% | 2% | 4% | 7.2% | 3.8% | 4.7% |
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.