Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 19.5% | 24.6% | — | 18.8% | 21.7% | 8.7% |
| EBITDA margin % | 4.9% | 6.2% | -3.2% | 2.1% | 3.7% | -10% |
| EBIT margin % | 4% | 5.3% | -3.9% | 1.4% | 2.9% | -11.1% |
| PAT margin % | 1.9% | 2.1% | -6% | 2.9% | 1.2% | -10.3% |
| Working capital | ||||||
| Receivable days | 188 | 263 | — | 96 | 173 | 263 |
| Inventory days | 70 | 132 | — | 64 | 47 | 48 |
| Payable days | 166 | 167 | — | 56 | 125 | 217 |
| NWC days | 92 | 228 | — | 105 | 95 | 94 |
| Leverage | ||||||
| Current ratio | 1.47 | 1.89 | — | 1.78 | 1.36 | 1.11 |
| Debt to EBITDA | 4.58 | 5.56 | — | 5.15 | 5.08 | — |
| Debt to equity | 0.44 | 0.49 | — | 0.33 | 0.55 | 1.32 |
| Interest coverage | 2.3 | 1.7 | -0.9 | 2.4 | 1.5 | -2.7 |
| Asset turnover | 0.78 | 0.64 | — | 1.4 | 1.09 | 0.79 |
| Return ratios | ||||||
| Return on assets % | 1.5% | 1.4% | — | 4% | 1.3% | -8.1% |
| Return on capital employed % | 9.4% | 7.1% | — | 10.4% | 8.8% | -25.2% |
| Return on equity % | 3.8% | 3.1% | — | 8.6% | 3.6% | -39.6% |
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.