Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 10.5% | 24.3% | 25.1% | 17.4% | 12.6% | 18.8% | 43.3% | 20% |
| EBITDA margin % | 5.2% | 5.5% | 8.2% | 6.7% | 5.1% | 3.8% | -8.3% | -11.9% |
| EBIT margin % | 4.6% | 3.7% | 6% | 5.2% | 3.6% | 1.7% | -14.4% | -15.4% |
| PAT margin % | 0.3% | 1.4% | 0.3% | 0.8% | 0.7% | 0.6% | 6.7% | 12.8% |
| Working capital | ||||||||
| Receivable days | — | — | 36 | 186 | 136 | 86 | 228 | 118 |
| Inventory days | — | — | 152 | 94 | 80 | 137 | 579 | 277 |
| Payable days | — | — | 61 | 221 | 141 | 62 | 213 | 104 |
| NWC days | — | — | 126 | 58 | 75 | 161 | 594 | 291 |
| Leverage | ||||||||
| Current ratio | — | — | 0.51 | 1.6 | 1.1 | 9.29 | 2.78 | 2.8 |
| Debt to EBITDA | — | — | 15.09 | 3.51 | 9.74 | 26.25 | — | — |
| Debt to equity | — | — | 0.33 | 0.08 | 0.21 | 0.08 | 0.08 | 0.08 |
| Interest coverage | 2.9 | 1.3 | 1.2 | 1.3 | 1.3 | 1.2 | 5.5 | 121.4 |
| Asset turnover | — | — | 0.19 | 0.25 | 0.31 | 0.08 | 0.03 | 0.04 |
| Return ratios | ||||||||
| Return on assets % | — | — | 0.1% | 0.2% | 0.2% | 0% | 0.2% | 0.5% |
| Return on capital employed % | — | — | 1.7% | 2% | 1.7% | 0.5% | 0.3% | 0.8% |
| Return on equity % | — | — | 0.1% | 0.2% | 0.3% | 0% | 0.2% | 0.6% |
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.