Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 5.4% | 5.9% | 5.2% | 5.1% | 5.6% | 6.3% | 6.7% |
| EBITDA margin % | -1.4% | -1.2% | -7.8% | -3.7% | -1% | -1% | -1.4% | -1.7% |
| EBIT margin % | -1.6% | -1.4% | -9% | -4.1% | -1.2% | -1.1% | -1.6% | -1.9% |
| PAT margin % | 0.1% | -0.5% | -10.1% | -2.4% | 0.1% | 0% | 0.3% | 0.5% |
| Working capital | ||||||||
| Receivable days | — | 31 | 150 | 24 | 10 | 32 | 36 | 32 |
| Inventory days | — | 1 | 2 | 1 | 2 | 2 | 2 | 0 |
| Payable days | — | 10 | 48 | 29 | 9 | 10 | 11 | 11 |
| NWC days | — | 22 | 105 | -3 | 3 | 23 | 26 | 21 |
| Leverage | ||||||||
| Current ratio | — | 1.21 | 1.18 | 1.18 | 1.14 | 1.61 | 1.47 | 1.48 |
| Debt to EBITDA | — | — | — | — | — | — | — | — |
| Debt to equity | — | 0.77 | 1.72 | 13.2 | 12.81 | 8.81 | 8.03 | 4.8 |
| Interest coverage | 1.1 | 0.8 | 0 | 0.3 | 1.1 | 1 | 1.3 | 1.2 |
| Asset turnover | — | 4.92 | 0.85 | 2.02 | 5.68 | 6.75 | 6.35 | 7.15 |
| Return ratios | ||||||||
| Return on assets % | — | -2.5% | -8.5% | -4.8% | 0.4% | 0.2% | 1.9% | 3.6% |
| Return on capital employed % | — | 14.2% | 0.1% | 3.5% | 13.8% | 14% | 17.6% | 26% |
| Return on equity % | — | -18.8% | -101.3% | -132.3% | 9.7% | 4.4% | 34.8% | 50.4% |
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.