Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | 46% | 31.3% | 35.5% |
| EBITDA margin % | 1% | 6.6% | -2.4% | -259.1% | -102.5% | 16% | 12.9% | 17.3% |
| EBIT margin % | 0.6% | 6.4% | -2.9% | -259.9% | -107.7% | 13.2% | 11.8% | 16.5% |
| PAT margin % | 3.4% | 0.2% | -8.8% | -248.5% | 15% | 17.9% | 13.1% | 20.6% |
| Working capital | ||||||||
| Receivable days | 127 | 70 | 175 | 146 | — | 59 | 87 | 13 |
| Inventory days | 10 | 10 | 9 | 2 | — | 33 | 12 | 19 |
| Payable days | 16 | 64 | 46 | 5 | — | 35 | 23 | 10 |
| NWC days | 121 | 16 | 138 | 142 | — | 56 | 76 | 22 |
| Leverage | ||||||||
| Current ratio | — | — | — | — | — | 2.46 | 5.78 | 3.03 |
| Debt to EBITDA | 108.89 | 8.87 | — | — | — | 1.77 | 0.13 | 0.03 |
| Debt to equity | 0.8 | 0.91 | 0.06 | 0.07 | — | 0.12 | 0.01 | 0.01 |
| Interest coverage | 1.6 | 2.4 | 0.3 | -45.7 | 4.4 | 7.7 | 23.8 | 76.7 |
| Asset turnover | 0.3 | 0.7 | 0.26 | 0.31 | — | 0.35 | 0.48 | 0.84 |
| Return ratios | ||||||||
| Return on assets % | 1% | 0.1% | -2.3% | -77.7% | — | 6.2% | 6.3% | 17.2% |
| Return on capital employed % | — | — | — | — | — | 8.1% | 12.7% | 24% |
| Return on equity % | 2.4% | 0.3% | -3.8% | -110.1% | — | 7.3% | 7% | 20.6% |
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.