Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 79.3% | 0.1% | 0.1% | 0.8% | 0.4% | 33.7% | 28% | 37.8% |
| EBITDA margin % | -1.3% | -2.7% | -1.3% | -0.3% | -4.1% | 0.9% | 2.5% | 6.5% |
| EBIT margin % | -1.3% | -2.7% | -1.4% | -0.3% | -4.1% | 0.8% | 2.5% | 6.4% |
| PAT margin % | 5.1% | 0.7% | -2.8% | -8.7% | 24.8% | 39.2% | 31.9% | 16.9% |
| Working capital | ||||||||
| Receivable days | 4 | 41 | 0 | — | 1 | 0 | 195 | 280 |
| Inventory days | 4 | — | — | — | 0 | 4 | 7 | 5 |
| Payable days | — | — | 0 | — | 1 | 36 | 144 | 163 |
| NWC days | — | — | — | — | -0 | -32 | 59 | 122 |
| Leverage | ||||||||
| Current ratio | 0.66 | 3.28 | 0.43 | — | 1.54 | 1.25 | 1.53 | 1.18 |
| Debt to EBITDA | — | — | — | — | — | 397.9 | 162.59 | 50.45 |
| Debt to equity | 3.44 | 5.27 | 6.26 | — | 0.25 | 0.47 | 0.4 | 0.53 |
| Interest coverage | 1.1 | 1 | 1 | 0.9 | 1.4 | 2.9 | 2.2 | 1.8 |
| Asset turnover | 0.07 | 0.07 | 0.06 | — | 0.05 | 0.09 | 0.07 | 0.09 |
| Return ratios | ||||||||
| Return on assets % | 0.3% | 0% | -0.2% | — | 1.3% | 3.6% | 2.2% | 1.6% |
| Return on capital employed % | 6.2% | 6.8% | 5.8% | — | 4.9% | 7.4% | 5.6% | 5.1% |
| Return on equity % | 2.4% | 0.4% | -1.7% | — | 1.6% | 5.4% | 3.1% | 2.7% |
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.