Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 37.4% | 40.3% | 30.3% | 52.6% | 29.6% | 31.9% | 35.5% | 36.2% |
| EBITDA margin % | 11.5% | 0.1% | -9.7% | -187.9% | -131.8% | -113.5% | 4% | 1.4% |
| EBIT margin % | 8.9% | -3.5% | -13.5% | -203.2% | -152.2% | -124.1% | 1.7% | -0.9% |
| PAT margin % | 5.7% | -7.4% | -21.5% | -640.8% | -201.4% | 379.5% | 0.9% | -9.6% |
| Working capital | ||||||||
| Receivable days | 143 | 204 | 279 | 147 | 251 | 199 | 156 | 239 |
| Inventory days | 232 | 377 | 364 | 1,950 | 1,668 | 1,020 | 227 | 326 |
| Payable days | 17 | 193 | 119 | 1,100 | 1,484 | 753 | 139 | 191 |
| NWC days | 359 | 389 | 524 | 996 | 435 | 466 | 244 | 373 |
| Leverage | ||||||||
| Current ratio | 1.3 | 1.25 | 1.32 | 0.56 | 0.42 | 0.75 | 1.23 | 1.07 |
| Debt to EBITDA | 3.5 | 1,300.55 | — | — | — | — | 21.59 | 84.2 |
| Debt to equity | 0.61 | 0.93 | 1.67 | -1.96 | -1.37 | 4.93 | 3.25 | 3.29 |
| Interest coverage | 2 | -0.4 | -1.1 | -3 | -1.5 | -3.1 | 1.1 | 0.2 |
| Asset turnover | 0.75 | 0.54 | 0.44 | 0.17 | 0.13 | 0.16 | 0.6 | 0.47 |
| Return ratios | ||||||||
| Return on assets % | 4.3% | -4% | -9.5% | -109.3% | -25.2% | 61.4% | 0.6% | -4.5% |
| Return on capital employed % | 15.8% | -3.6% | -11.3% | -65.6% | 44.4% | -56.6% | 16.4% | 4.3% |
| Return on equity % | 8.6% | -10% | -31.3% | 205.1% | 30.2% | 796.5% | 3.5% | -27.8% |
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.