Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 26.7% | 21% | -33.9% | ||||
| -130.6% |
| -102.4% |
| 36.5% |
| 6.7% |
| EBITDA margin % | -8.5% | -23.9% | -182.5% | -751.2% | -1,213.3% | -733.7% | -1.6% | -97.8% |
| EBIT margin % | -9.3% | -26.7% | -203.4% | -844.4% | -1,345.7% | -767.6% | -11.8% | -120% |
| PAT margin % | -8.5% | 2% | -203.5% | -839.8% | -1,343.9% | 8.5% | 55.5% | -116.5% |
| Working capital | ||||||||
| Receivable days | — | — | 550 | 2,256 | 3,943 | 153 | 68 | 168 |
| Inventory days | — | — | 564 | 1,327 | 1,038 | 109 | 67 | 117 |
| Payable days | — | — | 2,761 | 8,275 | 9,483 | 1,753 | 1,711 | 2,565 |
| NWC days | — | — | -1,647 | -4,692 | -4,501 | -1,491 | -1,576 | -2,280 |
| Leverage | ||||||||
| Current ratio | — | — | 0.55 | 0.44 | 0.36 | 0.28 | 0.32 | 0.55 |
| Debt to EBITDA | — | — | — | — | — | — | — | — |
| Debt to equity | — | — | 0.46 | -0.99 | -0.28 | 0.02 | 0.02 | 0.02 |
| Interest coverage | -7 | 0.3 | -439 | -286.3 | -464 | 17 | 80.3 | -803 |
| Asset turnover | — | — | 0.11 | 0.03 | 0.01 | 0.01 | 0.04 | 0.01 |
| Return ratios | ||||||||
| Return on assets % | — | — | -23% | -21.1% | -20.1% | 0.1% | 2% | -1.7% |
| Return on capital employed % | — | — | -125.6% | -188.5% | 209.8% | 0.2% | 2.4% | -1.9% |
| Return on equity % | — | — | -179% | 317.3% | 72% | 0.1% | 2.5% | -2.1% |
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.