Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 99% | 38.8% | 27.8% | 29.5% | 33.9% | 35.9% | 34.4% | 37.4% |
| EBITDA margin % | 27.2% | -13.6% | -43.7% | -2.5% | 15.2% | 13.5% | 12.5% | 14.5% |
| EBIT margin % | 26.1% | -15.5% | -46.7% | -3.8% | 13.8% | 12% | 11.2% | 10.2% |
| PAT margin % | 37.8% | -26.6% | -160% | 5.9% | 26.4% | 13.8% | 10.5% | 6.5% |
| Working capital | ||||||||
| Receivable days | 9 | 1 | 5 | 19 | 4 | 12 | 4 | 17 |
| Inventory days | 810 | 48 | 67 | 22 | 20 | 23 | 22 | 28 |
| Payable days | — | — | 158 | 75 | 44 | 45 | 26 | 43 |
| NWC days | — | — | -85 | -34 | -20 | -10 | 1 | 3 |
| Leverage | ||||||||
| Current ratio | 0.77 | 1.03 | 1.41 | 1.39 | 5.96 | 1.76 | 0.45 | 1.08 |
| Debt to EBITDA | 22.65 | — | — | — | 0 | 1.52 | 3.52 | 2.13 |
| Debt to equity | 0.47 | 0.47 | 0.01 | 0.01 | 0 | 0.01 | 0.03 | 0.04 |
| Interest coverage | 4.2 | 0.6 | 0.2 | 3.6 | 42.4 | 18.2 | 10 | 6.5 |
| Asset turnover | 0.05 | 0.03 | 0.03 | 0.05 | 0.06 | 0.06 | 0.07 | 0.14 |
| Return ratios | ||||||||
| Return on assets % | 1.9% | -0.8% | -4.4% | 0.3% | 1.6% | 0.8% | 0.7% | 0.9% |
| Return on capital employed % | 4.6% | 1.8% | 0.3% | 0.2% | 1.2% | 1.2% | 1.1% | 1.7% |
| Return on equity % | 2.9% | -1.3% | -4.5% | 0.3% | 1.6% | 0.8% | 0.8% | 0.9% |
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.