Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | -5.1% | 35.7% | 46.8% | 96.4% | 4.1% | 88.5% | 84.1% | 39.4% |
| EBITDA margin % | -180.4% | -4.2% | -30.9% | 0.5% | -74.2% | 78.8% | 38.6% | -13.8% |
| EBIT margin % | -199% | -8.6% | -40.3% | -0.2% | -85.4% | 76.5% | 25.7% | -26.4% |
| PAT margin % | -17% | -29.5% | -57.2% | -100.7% | -226.1% | 55.4% | 215.3% | 15% |
| Working capital | ||||||||
| Receivable days | — | — | 16 | 91 | 194 | 344 | 396 | 525 |
| Inventory days | — | — | 2,225 | 2,517 | 1,409 | 2,029 | 7,044 | 2,907 |
| Payable days | — | — | 1,081 | 362 | 0 | 101 | 0 | 109 |
| NWC days | — | — | 1,159 | 2,246 | 1,603 | 2,272 | 7,439 | 3,323 |
| Leverage | ||||||||
| Current ratio | — | — | 0.42 | 7.99 | 17.37 | 30.17 | 22.82 | 12.02 |
| Debt to EBITDA | — | — | — | 14.3 | — | 0.2 | 0 | — |
| Debt to equity | — | — | 0.34 | 0.05 | 0 | 0.05 | 0 | 0.06 |
| Interest coverage | 0.7 | 0.2 | -0.6 | 1 | -1.8 | 57.1 | 89 | 8.6 |
| Asset turnover | — | — | 0.03 | 0.68 | 0.06 | 0.3 | 0.09 | 0.07 |
| Return ratios | ||||||||
| Return on assets % | — | — | -1.4% | -68.4% | -13.6% | 16.8% | 18.5% | 1.1% |
| Return on capital employed % | — | — | -0.3% | 7.3% | -3.3% | 29.5% | 12.6% | 1.7% |
| Return on equity % | — | — | -2.1% | -77.8% | -14.3% | 18.1% | 19% | 1.2% |
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.