Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 24.4% | -105.2% | |||||
| -1.6% |
| -10.8% |
| 57.5% |
| 7.6% |
| -0.7% |
| EBITDA margin % | 13.3% | 13.3% | -145.3% | -16.8% | -191.9% | 47.7% | -14.8% | -57% |
| EBIT margin % | 12.8% | 12.8% | -146.8% | -17.1% | -193% | 47.4% | -15.6% | -58.4% |
| PAT margin % | 0.7% | 0.7% | -138.4% | -22.8% | -513.4% | 145.5% | -27% | -23.8% |
| Working capital | ||||||||
| Receivable days | 638 | 755 | 3,394 | 964 | 1,197 | 533 | 1,223 | 1,653 |
| Inventory days | 1,178 | 1,434 | 3,240 | 1,690 | 3,477 | 2,050 | 1,992 | 2,458 |
| Payable days | 103 | 143 | 408 | 239 | 495 | 269 | 219 | 268 |
| NWC days | 1,713 | 2,046 | 6,226 | 2,415 | 4,179 | 2,314 | 2,996 | 3,843 |
| Leverage | ||||||||
| Current ratio | 1.95 | 1.6 | 1.2 | 1.13 | 1.05 | 1.24 | 1.33 | 1.44 |
| Debt to EBITDA | 18.22 | 15.48 | — | — | — | 2.13 | — | — |
| Debt to equity | 1.29 | 1.18 | 1.85 | 1.92 | 2.27 | 0.49 | 0.22 | 0.21 |
| Interest coverage | 1 | 1 | -1.6 | -0.5 | -1.8 | 15.4 | -0 | -0.9 |
| Asset turnover | 0.14 | 0.13 | 0.02 | 0.08 | 0.03 | 0.14 | 0.07 | 0.05 |
| Return ratios | ||||||||
| Return on assets % | 0.1% | 0.1% | -3% | -1.8% | -17.7% | 19.8% | -1.8% | -1.3% |
| Return on capital employed % | 3.7% | 4% | -6.7% | -2.6% | -20.9% | 112.9% | -0% | -1.7% |
| Return on equity % | 0.4% | 0.4% | -15.1% | -9.3% | -184.6% | 70.1% | -5.7% | -3.6% |
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.