Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | 59% | 80.1% | 66.7% | 65.6% |
| EBITDA margin % | 14.2% | 15.7% | 18.8% | 15.1% | 10.9% | 16.7% | -14.9% | 12.2% |
| EBIT margin % | 8.1% | 9.7% | 8.8% | 8.1% | 6% | 9.4% | -22.7% | 7.5% |
| PAT margin % | 0.8% | 1% | 0.4% | 1.3% | 0.9% | 1.2% | -29.1% | 8.9% |
| Working capital | ||||||||
| Receivable days | — | — | 125 | — | 73 | 98 | 129 | 112 |
| Inventory days | — | — | 180 | — | 169 | 552 | 249 | 186 |
| Payable days | — | — | 119 | — | 92 | 150 | 200 | 135 |
| NWC days | — | — | 185 | — | 150 | 500 | 178 | 163 |
| Leverage | ||||||||
| Current ratio | — | — | 0.96 | — | 1.46 | 1.29 | 1.15 | 1.63 |
| Debt to EBITDA | — | — | 6.2 | — | 4.13 | 4.17 | — | 3.39 |
| Debt to equity | — | — | 1.97 | — | 0.79 | 0.78 | 0.18 | 0.18 |
| Interest coverage | 1.1 | 1.1 | 1 | 1.2 | 1.2 | 1.3 | -2.9 | 2.9 |
| Asset turnover | — | — | 0.48 | — | 0.85 | 0.56 | 0.21 | 0.34 |
| Return ratios | ||||||||
| Return on assets % | — | — | 0.2% | — | 0.8% | 0.7% | -6.2% | 3% |
| Return on capital employed % | — | — | 6.9% | — | 7.1% | 7.7% | -7.8% | 3.6% |
| Return on equity % | — | — | 0.7% | — | 1.7% | 1.4% | -7.9% | 3.9% |
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.