Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 57.3% | 57.7% | 61.5% | 59.3% | 51.2% | 52.1% | 54.1% | 52.9% |
| EBITDA margin % | -6.3% | -10% | 8.5% | -4.6% | -8.7% | 3.5% | 14.6% | 3.6% |
| EBIT margin % | -12.7% | -17.9% | 1.7% | -13.4% | -18.5% | -3.8% | 8.4% | -4.9% |
| PAT margin % | 0.9% | -6.2% | 4.8% | -5.9% | -28% | -6.4% | 9.4% | 11.3% |
| Working capital | ||||||||
| Receivable days | — | — | 117 | 147 | 161 | 141 | 157 | 151 |
| Inventory days | — | 368 | 326 | 438 | 335 | 264 | 267 | 325 |
| Payable days | — | — | 159 | 150 | 170 | 132 | 120 | 124 |
| NWC days | — | — | 284 | 436 | 325 | 274 | 305 | 352 |
| Leverage | ||||||||
| Current ratio | — | — | 3.51 | 4.41 | 3.33 | 2.88 | 3.01 | 4.87 |
| Debt to EBITDA | — | — | 0.02 | — | — | 1.25 | 0.44 | 1.06 |
| Debt to equity | — | — | 0 | 0.05 | 0.04 | 0.03 | 0.05 | 0.02 |
| Interest coverage | -33.8 | -48.9 | 51.5 | -40.9 | -16.7 | -2.3 | 24.4 | -0.5 |
| Asset turnover | 0.32 | 0.29 | 0.36 | 0.3 | 0.37 | 0.5 | 0.56 | 0.46 |
| Return ratios | ||||||||
| Return on assets % | 0.3% | -1.8% | 1.7% | -1.8% | -10.4% | -3.2% | 5.2% | 5.1% |
| Return on capital employed % | — | — | 2.4% | -3% | -5.9% | -1% | 7.5% | -0.2% |
| Return on equity % | 0.3% | -2.1% | 2% | -2.1% | -12.6% | -4% | 6.6% | 6.1% |
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.