Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 38.1% | 26.2% | ||||
| 66.2% |
| 52% |
| 56.2% |
| 28.7% |
| EBITDA margin % | 2.5% | 3.6% | 3.2% | 3.6% | 8.8% | 23.3% | 20.6% | 16.6% |
| EBIT margin % | 2.5% | 3.6% | 3.2% | 3.6% | 7.4% | 22.7% | 20% | 16.3% |
| PAT margin % | — | 3.6% | 1.6% | 2.4% | 17.7% | 21.3% | 18.5% | 13.5% |
| Working capital | ||||||||
| Receivable days | — | — | 0 | 0 | 188 | 84 | 96 | 121 |
| Inventory days | — | — | 3,538 | 2,137 | 5,792 | 261 | 225 | 72 |
| Payable days | — | — | 0 | 0 | 809 | 152 | 242 | 105 |
| NWC days | — | — | 3,538 | 2,137 | 5,171 | 194 | 80 | 88 |
| Leverage | ||||||||
| Current ratio | — | — | 18.43 | 369 | 11.1 | 3.27 | 2.58 | 2.18 |
| Debt to EBITDA | — | — | 10 | 0 | 4.67 | 0.89 | 0.64 | 0.43 |
| Debt to equity | — | — | 0.06 | 0 | 0.03 | 0.19 | 0.13 | 0.1 |
| Interest coverage | — | — | — | — | 17 | 78.8 | 175.5 | 165.3 |
| Asset turnover | — | — | 0.16 | 0.23 | 0.06 | 0.63 | 0.64 | 1 |
| Return ratios | ||||||||
| Return on assets % | — | — | 0.3% | 0.5% | 1.1% | 13.4% | 11.9% | 13.5% |
| Return on capital employed % | — | — | 0.5% | 0.8% | 2.5% | 28.4% | 26% | 28.2% |
| Return on equity % | — | — | 0.3% | 0.5% | 1.2% | 19.3% | 17.8% | 19.9% |
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.