Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 49.9% | 52.2% | 44.7% | 41.3% | 39.4% | 47.4% | 50.9% | 57.5% |
| EBITDA margin % | 4% | 6.4% | 4.6% | 6.9% | 4.6% | 12.2% | 12.7% | 16.4% |
| EBIT margin % | 1.4% | 3.7% | 2.1% | 4.7% | 2.2% | 9.9% | 10.5% | 14.2% |
| PAT margin % | -6.4% | 0.1% | -3.2% | 15.9% | -2.1% | 5.3% | 5.1% | 10.2% |
| Working capital | ||||||||
| Receivable days | — | 50 | 32 | 45 | 50 | 57 | 70 | 80 |
| Inventory days | — | 25 | 42 | 60 | 27 | 43 | 47 | 67 |
| Payable days | — | 252 | 224 | 232 | 178 | 0 | 172 | 142 |
| NWC days | — | -176 | -150 | -127 | -102 | 100 | -55 | 6 |
| Leverage | ||||||||
| Current ratio | — | 0.31 | 0.29 | 0.51 | 0.41 | 0.74 | 1.11 | 1.19 |
| Debt to EBITDA | — | 5.31 | 8.91 | 1.9 | 2.77 | 1.57 | 2.27 | 2.02 |
| Debt to equity | — | -1.06 | -1.23 | 30.6 | -8.85 | 3.93 | 2.92 | 1.49 |
| Interest coverage | 0.4 | 0.5 | 0.5 | 1.2 | 0.5 | 2.1 | 1.8 | 3.1 |
| Asset turnover | — | 1.33 | 1.36 | 1.46 | 1.65 | 1.68 | 1.45 | 1.26 |
| Return ratios | ||||||||
| Return on assets % | — | 0.1% | -4.4% | 23.2% | -3.4% | 8.9% | 7.4% | 12.8% |
| Return on capital employed % | — | -221.4% | -26.3% | 138.1% | 85.3% | 86.6% | 36.1% | 33.6% |
| Return on equity % | — | -0.2% | 9.7% | 3,720.1% | 143.4% | 108.8% | 51.5% | 45.8% |
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.