Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 62.4% | 46.6% | 50% | 57% | 74% | -23.3% |
| EBITDA margin % | 44.8% | 30.7% | 19.9% | 11.5% | 15.6% | 23.5% | 29.4% | -132.5% |
| EBIT margin % | 43.8% | 26.3% | 13.5% | 6.7% | 10.3% | 15.6% | 18% | -172.8% |
| PAT margin % | 28.2% | 19.5% | 11.4% | 4.8% | 3.2% | 3.9% | 3.9% | -215.4% |
| Working capital | ||||||||
| Receivable days | — | — | 236 | 121 | 200 | 282 | 363 | 1,275 |
| Inventory days | — | — | 641 | 534 | 522 | 446 | 1,333 | 695 |
| Payable days | — | — | 273 | 195 | 166 | 141 | 491 | 357 |
| NWC days | — | — | 604 | 460 | 557 | 586 | 1,204 | 1,613 |
| Leverage | ||||||||
| Current ratio | — | — | 1.35 | 1.26 | 1.59 | 1.74 | 1.41 | 1.82 |
| Debt to EBITDA | — | — | 4.65 | 7.62 | 5.81 | 4.98 | 6 | — |
| Debt to equity | — | — | 0.62 | 0.64 | 0.58 | 0.95 | 0.83 | 0.24 |
| Interest coverage | 10 | 12 | 4.8 | 2.9 | 1.7 | 1.9 | 1.5 | -2.3 |
| Asset turnover | — | — | 0.29 | 0.32 | 0.31 | 0.35 | 0.21 | 0.06 |
| Return ratios | ||||||||
| Return on assets % | — | — | 3.3% | 1.5% | 1% | 1.4% | 0.8% | -13.2% |
| Return on capital employed % | — | — | 9.6% | 6.8% | 6.6% | 9.8% | 6.5% | -12.9% |
| Return on equity % | — | — | 7.7% | 3.5% | 2% | 3.2% | 1.8% | -19.1% |
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.