Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 31.2% | 23% | — | — | — | 44.5% |
| EBITDA margin % | 9.5% | 5.9% | -17.9% | -17.9% | -21% | -18.8% | 3.8% | 11.8% |
| EBIT margin % | 7.8% | 3.7% | -21% | -19.3% | -23% | -23.3% | 0.4% | 8.3% |
| PAT margin % | 3.4% | 0% | -30% | -29.5% | -11.4% | -19.9% | 2.8% | 8.6% |
| Working capital | ||||||||
| Receivable days | — | — | 262 | 137 | 130 | 179 | 204 | 251 |
| Inventory days | — | — | 387 | 99 | 21 | 16 | 16 | 38 |
| Payable days | — | — | 263 | 154 | — | — | — | 160 |
| NWC days | — | — | 385 | 82 | — | — | — | 129 |
| Leverage | ||||||||
| Current ratio | — | — | 1.21 | 0.8 | 1.09 | 0.82 | 1.49 | 2.69 |
| Debt to EBITDA | — | — | — | — | — | — | 0.86 | 0.5 |
| Debt to equity | — | — | 1.53 | -18.68 | 0.09 | 1.19 | 0.07 | 0.07 |
| Interest coverage | 2.8 | 1.1 | -2.3 | -4.1 | -2.4 | -5.8 | 4.6 | 18 |
| Asset turnover | — | 10.11 | 0.5 | 1.12 | 1.44 | 1.14 | 0.9 | 0.8 |
| Return ratios | ||||||||
| Return on assets % | — | 0.2% | -14.9% | -32.9% | -16.4% | -22.7% | 2.5% | 6.9% |
| Return on capital employed % | — | — | -31.7% | -102.3% | -61.3% | -66.7% | 4.9% | 13.7% |
| Return on equity % | — | — | -56.8% | 1,306.3% | -76.2% | -569.7% | 5.9% | 10% |
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.