Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 65.6% | 71.5% | 78.3% | 64.7% | 55.9% | 64.9% | 61.4% | 61.3% |
| EBITDA margin % | -20% | 4.7% | 4.2% | 4.1% | 1.4% | 2.7% | 2.7% | 6.1% |
| EBIT margin % | -20.7% | 4.4% | 3.4% | 3.4% | 0.7% | 1.8% | 1.4% | 5.1% |
| PAT margin % | 0.6% | 3% | 1.1% | 2.8% | 5.2% | -1.3% | 1.9% | 5.6% |
| Working capital | ||||||||
| Receivable days | — | — | 28 | 36 | 57 | 52 | 78 | 66 |
| Inventory days | — | — | 421 | 340 | 236 | 525 | 400 | 346 |
| Payable days | — | — | 374 | 253 | 251 | 366 | 115 | 134 |
| NWC days | — | — | 75 | 122 | 42 | 212 | 363 | 279 |
| Leverage | ||||||||
| Current ratio | — | — | 2.53 | 1.61 | 2.48 | 2.88 | 4.17 | 4.47 |
| Debt to EBITDA | — | — | 12.55 | 6.58 | 2.93 | 4.27 | 3.43 | 2.17 |
| Debt to equity | — | — | 1.46 | 0.46 | 0.05 | 0.08 | 0.06 | 0.08 |
| Interest coverage | 1.5 | 4.7 | 2.3 | 3.3 | 13.6 | 3 | 3.6 | 6.4 |
| Asset turnover | — | — | 0.82 | 0.84 | 0.74 | 0.5 | 0.47 | 0.49 |
| Return ratios | ||||||||
| Return on assets % | — | — | 0.9% | 2.4% | 3.8% | -0.6% | 0.9% | 2.7% |
| Return on capital employed % | — | — | 4.7% | 5.4% | 4.5% | 1.5% | 1.6% | 3.8% |
| Return on equity % | — | — | 3.1% | 4.9% | 5.7% | -0.9% | 1.1% | 3.5% |
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.