Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 91.5% | 90.7% | 84.2% | — | — | — | — |
| EBITDA margin % | 26.6% | 24% | -25% | -280.3% | — | — | — | — |
| EBIT margin % | 21.6% | 17.4% | -51% | -455.3% | — | — | — | — |
| PAT margin % | 17.9% | 2.6% | -135.9% | -715.6% | — | — | — | — |
| Working capital | ||||||||
| Receivable days | — | — | 31 | 28 | — | — | — | — |
| Inventory days | — | — | 199 | 705 | — | — | — | — |
| Payable days | — | — | 960 | 6,396 | — | — | — | — |
| NWC days | — | — | -729 | -5,663 | — | — | — | — |
| Leverage | ||||||||
| Current ratio | — | — | 0.04 | 0.03 | 0.07 | 0.06 | 0.03 | 0.01 |
| Debt to EBITDA | — | — | — | — | — | — | — | — |
| Debt to equity | — | — | 0.95 | 1.11 | 1.18 | 2.6 | 3.64 | 3.95 |
| Interest coverage | 1.6 | 1.1 | -0.4 | -0.9 | -0.7 | -0.1 | -1.8 | -2.8 |
| Asset turnover | — | — | 0.06 | 0.01 | 0 | 0 | 0 | 0 |
| Return ratios | ||||||||
| Return on assets % | — | — | -8% | -6.8% | -2.9% | -15.5% | -6.4% | -1.5% |
| Return on capital employed % | — | — | -4% | -6.9% | -2.7% | -5.1% | -3.8% | -5.7% |
| Return on equity % | — | — | -16.9% | -16.4% | -7.6% | -62.5% | -33.3% | -8.5% |
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.