Standalone figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 15.6% | 16.8% | 29.2% | 0.5% | 1.3% | 0% | — |
| EBITDA margin % | 6.7% | 8.9% | 8.6% | -46.3% | -61.2% | -285.2% | — |
| EBIT margin % | -3% | 0.3% | -15% | -83.3% | -113.8% | -577.8% | — |
| PAT margin % | -9.6% | 0.3% | -20.1% | -128.2% | -136.2% | 507.4% | — |
| Working capital | |||||||
| Receivable days | — | 217 | 609 | 0 | 0 | 0 | — |
| Inventory days | — | 1,032 | 3,828 | 4,523 | 6,482 | 36,013 | — |
| Payable days | — | 254 | 766 | 435 | 623 | 4,339 | — |
| NWC days | — | 996 | 3,671 | 4,088 | 5,859 | 31,674 | — |
| Leverage | |||||||
| Current ratio | — | 2.96 | 3.14 | 3.04 | 3.01 | 2.84 | 2.9 |
| Debt to EBITDA | — | 4.52 | 14.42 | — | — | — | — |
| Debt to equity | — | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.06 |
| Interest coverage | -0.6 | 1.4 | -2.8 | -13.8 | -13.3 | — | — |
| Asset turnover | — | 0.08 | 0.03 | 0.02 | 0.01 | 0 | 0 |
| Return ratios | |||||||
| Return on assets % | — | 0% | -0.6% | -2.3% | -1.8% | 1.2% | 2.9% |
| Return on capital employed % | — | 0.1% | -0.5% | -1.6% | -1.6% | -1.5% | -0.9% |
| Return on equity % | — | 0% | -0.8% | -3.1% | -2.4% | 1.7% | 3.7% |
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.