Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 82.4% | — | 31.3% | 35.3% | 28.9% | 28.6% | 32.1% | 18.9% |
| EBITDA margin % | 0.7% | 1.7% | 3.1% | 1.8% | 0.6% | 2.1% | 2.9% | -3% |
| EBIT margin % | -2.8% | -1.3% | 0.6% | -0.6% | -1.7% | 0% | 0.5% | -6.3% |
| PAT margin % | -4.7% | -1.8% | -0.3% | -0.7% | -2.3% | -0.9% | 2.1% | -3.6% |
| Working capital | ||||||||
| Receivable days | — | — | 11 | 9 | 8 | 7 | 10 | 17 |
| Inventory days | — | — | 170 | 191 | 168 | 187 | 226 | 171 |
| Payable days | — | — | 288 | 293 | 257 | 273 | 323 | 296 |
| NWC days | — | — | -107 | -92 | -81 | -79 | -88 | -109 |
| Leverage | ||||||||
| Current ratio | — | — | 0.34 | 0.31 | 0.31 | 0.33 | 0.35 | 0.3 |
| Debt to EBITDA | — | — | 22.96 | 41.86 | 122.67 | 36.48 | 30.5 | — |
| Debt to equity | — | — | -62.82 | -39.82 | -17.4 | -14.32 | -21.65 | -13.43 |
| Interest coverage | -0.4 | 0.3 | 0.9 | 0.7 | -0.2 | 0.6 | 4.6 | -746.7 |
| Asset turnover | — | — | 0.7 | 0.7 | 0.71 | 0.67 | 0.58 | 0.47 |
| Return ratios | ||||||||
| Return on assets % | — | — | -0.2% | -0.5% | -1.6% | -0.6% | 1.2% | -1.7% |
| Return on capital employed % | — | — | -309.3% | -107.9% | 12.1% | -30.2% | -78.3% | 43.3% |
| Return on equity % | — | — | 27% | 39.9% | 53.9% | 17.1% | -51.4% | 40.4% |
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.