Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 34.2% | ||||
| 26.8% |
| — |
| — |
| — |
| EBITDA margin % | 14.6% | 14.1% | 10% | 6.7% | 2.4% | 1.3% | -1.1% | -6.6% |
| EBIT margin % | 13.4% | 12.2% | 7.8% | 3.3% | -0.5% | -1.6% | -3.9% | -9.5% |
| PAT margin % | 8.1% | 8.4% | 5.8% | 2.8% | 0% | -1.1% | -3.1% | -6.5% |
| Working capital | ||||||||
| Receivable days | 93 | 73 | 84 | 82 | 48 | 104 | 46 | — |
| Inventory days | 100 | 103 | 79 | 153 | 98 | 91 | 88 | — |
| Payable days | — | — | — | 77 | 42 | — | — | — |
| NWC days | — | — | — | 157 | 104 | — | — | — |
| Leverage | ||||||||
| Current ratio | 2.02 | 2.63 | 3.68 | 3.4 | 3.91 | 1.96 | 2.33 | — |
| Debt to EBITDA | 0.42 | 0.35 | 0.29 | 0 | 0 | 9.29 | — | — |
| Debt to equity | 0.14 | 0.1 | 0.05 | 0 | 0 | 0.21 | 0.15 | — |
| Interest coverage | 21 | 15.4 | 10.5 | 6.5 | 1.4 | -1.1 | -3.4 | -7.7 |
| Asset turnover | 1.37 | 1.47 | 1.35 | 0.87 | 1.31 | 1.06 | 1.4 | — |
| Return ratios | ||||||||
| Return on assets % | 11.1% | 12.4% | 7.8% | 2.4% | 0% | -1.2% | -4.3% | — |
| Return on capital employed % | 31.5% | 28.9% | 14.6% | 4.9% | 0.6% | -1.2% | -5.7% | — |
| Return on equity % | 19.2% | 17.8% | 10.1% | 3.1% | 0.1% | -1.9% | -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.