Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 54.1% | 76.8% | 71.3% | 83.4% | 98% | — |
| EBITDA margin % | -0.6% | -17.3% | -8.8% | 8.7% | -10.9% | -15.4% | 7.6% | 28.3% |
| EBIT margin % | -7.4% | -29.1% | -17.8% | -3.1% | -22.2% | -32.7% | -10.2% | -0.7% |
| PAT margin % | -7.4% | -30.7% | -23.4% | 2.2% | -28.2% | -14.4% | 3.6% | -22.4% |
| Working capital | ||||||||
| Receivable days | 102 | 187 | 147 | 157 | 12 | 7 | 21 | 1 |
| Inventory days | 311 | 443 | 920 | 2,204 | 1,607 | 4,737 | 49,647 | 2,810 |
| Payable days | — | — | 286 | 544 | 339 | 554 | 6,935 | 356 |
| NWC days | — | — | 781 | 1,817 | 1,279 | 4,190 | 42,733 | 2,455 |
| Leverage | ||||||||
| Current ratio | 1.61 | 1.8 | 1.46 | 1.4 | 1.44 | 2.02 | 1.58 | 1.07 |
| Debt to EBITDA | — | — | — | 11.42 | — | — | 33.54 | 12.9 |
| Debt to equity | 0.2 | 0.22 | 0.3 | 0.38 | 0.51 | 0.88 | 1.28 | 1.85 |
| Interest coverage | -0.6 | -3.7 | -2.3 | 1.3 | -1.4 | 0.6 | 0.8 | 0.3 |
| Asset turnover | 0.4 | 0.24 | 0.27 | 0.23 | 0.31 | 0.21 | 0.17 | 0.09 |
| Return ratios | ||||||||
| Return on assets % | -2.9% | -7.2% | -6.3% | 0.5% | -8.6% | -3% | 0.6% | -2.1% |
| Return on capital employed % | -1.9% | -7.8% | -6.3% | 4.1% | -7.5% | 2.4% | 5.3% | 1.9% |
| Return on equity % | -4.6% | -10.6% | -9.9% | 0.8% | -15.7% | -6.5% | 1.8% | -11.4% |
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.