Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 62.7% | 68.7% | 66.1% | 62.5% | 66.6% | 64.2% | 67.4% | 62.2% |
| EBITDA margin % | 1.4% | 17.7% | 21.6% | 24.2% | 19% | 13.5% | 12.1% | 0.1% |
| EBIT margin % | -2.9% | 13.6% | 17.9% | 21.8% | 16.1% | 10.3% | 9.6% | -2.9% |
| PAT margin % | -6.9% | 7.9% | 11.5% | 15.6% | 12.2% | 6.5% | 5.9% | -4.2% |
| Working capital | ||||||||
| Receivable days | 145 | — | 123 | 93 | 150 | 170 | 160 | 190 |
| Inventory days | 284 | — | 273 | 150 | 213 | 188 | 233 | 229 |
| Payable days | 2 | — | 144 | 79 | 123 | 126 | 142 | 143 |
| NWC days | 428 | — | 253 | 165 | 239 | 233 | 251 | 275 |
| Leverage | ||||||||
| Current ratio | 1.03 | — | 1.46 | 1.97 | 1.91 | 1.91 | 1.96 | 1.84 |
| Debt to EBITDA | 29.54 | — | 1.59 | 0.7 | 1.36 | 1.86 | 1.69 | 244.12 |
| Debt to equity | 0.53 | — | 0.43 | 0.28 | 0.33 | 0.32 | 0.26 | 0.33 |
| Interest coverage | -0.2 | 2.4 | 3.5 | 10.6 | 7.2 | 4.7 | 4.4 | -0.1 |
| Asset turnover | 0.62 | — | 0.68 | 1.03 | 0.78 | 0.78 | 0.8 | 0.68 |
| Return ratios | ||||||||
| Return on assets % | -4.2% | — | 7.9% | 16% | 9.5% | 5.1% | 4.7% | -2.8% |
| Return on capital employed % | -1.7% | — | 21.4% | 38.3% | 23.1% | 13.5% | 12.8% | -0.2% |
| Return on equity % | -8.9% | — | 14.3% | 25.3% | 15.4% | 8.2% | 7.5% | -4.7% |
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.