Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 60.6% | 19.7% | 21% | 13.1% | 12.9% | 23% | 14% | 17.4% |
| EBITDA margin % | 11.5% | 5.4% | 3.9% | 3.3% | 4.1% | 4.9% | 5.9% | 7.7% |
| EBIT margin % | 11.2% | 4.8% | 3.1% | 2.8% | 3.8% | 4.8% | 5.8% | 7.5% |
| PAT margin % | 3.5% | 0.3% | -17.4% | 1.2% | 0.2% | 1.5% | 6.4% | 8.8% |
| Working capital | ||||||||
| Receivable days | 155 | 239 | 673 | 476 | 462 | 88 | 142 | 175 |
| Inventory days | 35 | 29 | 53 | 44 | 44 | 13 | 28 | 63 |
| Payable days | 1 | 0 | 198 | 149 | 155 | 93 | 210 | 272 |
| NWC days | 189 | 268 | 528 | 372 | 351 | 8 | -41 | -34 |
| Leverage | ||||||||
| Current ratio | 1.07 | 1.06 | 1.09 | 1.09 | 1.03 | 1.52 | 1.89 | 1.75 |
| Debt to EBITDA | 7.84 | 27.88 | 74.6 | 62.13 | 47.12 | 8.62 | 8.35 | 5.16 |
| Debt to equity | 3.4 | 3.79 | 6.61 | 5.25 | 4.88 | 1.1 | 0.46 | 0.35 |
| Interest coverage | 1.4 | 1 | 0.9 | 1.3 | 1.1 | 1.3 | 2.5 | 10.6 |
| Asset turnover | 0.53 | 0.36 | 0.25 | 0.33 | 0.33 | 0.72 | 0.4 | 0.39 |
| Return ratios | ||||||||
| Return on assets % | 1.8% | 0.1% | -4.3% | 0.4% | 0.1% | 1.1% | 2.6% | 3.4% |
| Return on capital employed % | 17.3% | 12.2% | 5.6% | 3.9% | 4.7% | 6.3% | 7.2% | 5.6% |
| Return on equity % | 13.1% | 0.6% | -39.1% | 3% | 0.6% | 3.8% | 6% | 7.6% |
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.