Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 75.7% | 30.6% | 13.6% | 16% | 19.4% | 18.2% | 15.2% | 13.1% |
| EBITDA margin % | 4.3% | 12.3% | -4.6% | 1.5% | 12.1% | 9.9% | 8.1% | 5.5% |
| EBIT margin % | 2.1% | 9.9% | -6.6% | 0.4% | 11.3% | 9.1% | 7.6% | 4.9% |
| PAT margin % | 4.2% | 10.4% | -10.3% | 7.2% | 11.3% | 8.1% | 11.8% | 5.2% |
| Working capital | ||||||||
| Receivable days | — | — | 117 | 85 | 71 | 85 | 72 | 92 |
| Inventory days | — | — | 521 | 412 | 260 | 299 | 237 | 317 |
| Payable days | — | — | 254 | 240 | 199 | 213 | 192 | 284 |
| NWC days | — | — | 384 | 256 | 132 | 172 | 117 | 124 |
| Leverage | ||||||||
| Current ratio | — | — | 1.88 | 1.91 | 2.07 | 1.99 | 1.89 | 1.97 |
| Debt to EBITDA | — | — | — | 19.81 | 1.42 | 2.02 | 2.35 | 5.74 |
| Debt to equity | — | — | 0.28 | 0.17 | 0.15 | 0.16 | 0.19 | 0.26 |
| Interest coverage | 1.6 | 3.5 | -0.5 | 2.6 | 9.6 | 6 | 5 | 5 |
| Asset turnover | — | — | 0.29 | 0.34 | 0.51 | 0.45 | 0.51 | 0.41 |
| Return ratios | ||||||||
| Return on assets % | — | — | -3% | 2.4% | 5.7% | 3.7% | 6% | 2.1% |
| Return on capital employed % | — | — | -1.6% | 7% | 10.7% | 8.1% | 8.3% | 6.4% |
| Return on equity % | — | — | -5.3% | 4.2% | 9.7% | 6.4% | 11.6% | 4.3% |
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.