Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 91.8% | 93.4% | 86.8% | 96.8% | 6.2% | — |
| EBITDA margin % | 38.8% | 36.4% | -9.1% | 42.8% | -146.9% | 57.1% |
| EBIT margin % | 26.4% | 22.2% | -33.3% | 28.3% | -185.8% | 35.7% |
| PAT margin % | 4.7% | 0.9% | -82% | 0.6% | -246% | 6.6% |
| Working capital | ||||||
| Receivable days | 72 | 28 | 136 | 100 | 562 | — |
| Inventory days | 4,344 | 4,262 | 3,843 | 10,112 | 2,231 | 3,524 |
| Payable days | 806 | 865 | 1,267 | 3,001 | 926 | — |
| NWC days | 3,611 | 3,425 | 2,712 | 7,211 | 1,867 | — |
| Leverage | ||||||
| Current ratio | 1.25 | 1.1 | 1.09 | 0.85 | 0.56 | 1.28 |
| Debt to EBITDA | 4.43 | 6.11 | — | 6.93 | — | — |
| Debt to equity | 0.72 | 0.87 | 1.3 | 1.28 | 1.78 | — |
| Interest coverage | 1.3 | 1.1 | -0.4 | 1 | -3.1 | 1 |
| Asset turnover | 0.22 | 0.19 | 0.1 | 0.16 | 0.02 | 0.03 |
| Return ratios | ||||||
| Return on assets % | 1% | 0.2% | -8.2% | 0.1% | -5% | 0.2% |
| Return on capital employed % | 7.5% | 5.9% | -2.7% | 6.2% | -5.4% | 1.8% |
| Return on equity % | 2% | 0.3% | -21.5% | 0.3% | -16.2% | — |
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.