Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | 28.8% | 26% | 12.7% | 20.2% |
| EBITDA margin % | 10.7% | 7.9% | 7.2% | 4.3% | 9.9% | 6.7% | -9.8% | 0.2% |
| EBIT margin % | 9.4% | 7% | 6.1% | — | 9.4% | 6% | -11.3% | -1.1% |
| PAT margin % | 3.8% | 0% | 3.4% | 2.3% | 5.9% | 2.8% | -12.1% | 7.4% |
| Working capital | ||||||||
| Receivable days | 572 | — | — | — | 95 | 86 | 108 | 160 |
| Inventory days | 505 | — | — | — | 90 | 169 | 158 | 164 |
| Payable days | 276 | — | — | — | 26 | 36 | 1 | 22 |
| NWC days | 800 | — | — | — | 159 | 219 | 265 | 302 |
| Leverage | ||||||||
| Current ratio | 1.38 | — | — | — | 1.86 | 2.12 | 4.46 | 4.24 |
| Debt to EBITDA | 12.37 | — | — | — | 1.64 | 3.9 | — | 106.45 |
| Debt to equity | 1.46 | — | — | — | 0.47 | 0.62 | 0.34 | 0.3 |
| Interest coverage | 2.2 | 2.9 | 2.6 | — | 5.7 | 2.6 | -2 | -0.2 |
| Asset turnover | 0.28 | — | — | — | 1.62 | 1.28 | 0.89 | 0.84 |
| Return ratios | ||||||||
| Return on assets % | 1.1% | — | — | — | 9.6% | 3.6% | -10.8% | 6.2% |
| Return on capital employed % | 6.7% | — | — | — | 25.4% | 13.2% | -10.2% | -0.6% |
| Return on equity % | 4.2% | — | — | — | 17.2% | 6.7% | -15% | 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.