Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 26.9% | 25.8% | 24.7% | 23.2% | 25.1% | 28.8% | 31.6% | 16.3% |
| EBITDA margin % | 7.1% | -1.5% | 3.2% | 3.2% | 6.9% | 10.4% | 11.5% | 4.6% |
| EBIT margin % | 2.7% | -9.2% | -4.7% | -0.6% | 4.2% | 7.6% | 8.6% | -0.2% |
| PAT margin % | 2.9% | -16.6% | -5.1% | -2.9% | 4.2% | 10.8% | 7.9% | 151.4% |
| Working capital | ||||||||
| Receivable days | 17 | 16 | 16 | 16 | 13 | 14 | 12 | 3 |
| Inventory days | 34 | 43 | 47 | 37 | 22 | 24 | 24 | 25 |
| Payable days | 75 | 91 | 165 | 141 | 53 | 93 | 102 | 79 |
| NWC days | -24 | -31 | -102 | -87 | -18 | -55 | -66 | -51 |
| Leverage | ||||||||
| Current ratio | 0.58 | 0.53 | 0.6 | 0.58 | 0.45 | 0.56 | 0.61 | 0.77 |
| Debt to EBITDA | 3.55 | — | 14.57 | 15.5 | 4.17 | 1.81 | 1.07 | 0.86 |
| Debt to equity | 0.79 | 1.14 | 1.14 | 1.16 | 0.84 | 0.46 | 0.26 | 0.09 |
| Interest coverage | 2.5 | -1.3 | -0.6 | 0.2 | 1.8 | 4 | 7.8 | 23.4 |
| Asset turnover | 1.14 | 0.7 | 0.72 | 0.74 | 1.06 | 1.11 | 1.06 | 1.34 |
| Return ratios | ||||||||
| Return on assets % | 3.3% | -11.6% | -3.7% | -2.2% | 4.4% | 12% | 8.3% | 202.1% |
| Return on capital employed % | 12% | -7.1% | -3.6% | 1.1% | 9.8% | 18.1% | 22.1% | 16.4% |
| Return on equity % | 9.1% | -39.6% | -12.6% | -7% | 12.1% | 26.2% | 16.3% | 350.8% |
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.