Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | -279.6% | -158.4% | 17.5% | -12.9% | -141.8% | 10.1% | -0.1% | -30.9% |
| EBIT margin % | -288% | -174.1% | 11.5% | -17.9% | -148.4% | 7.1% | -4.1% | -36.6% |
| PAT margin % | — | 173.4% | -25% | -91.4% | -279.4% | -89.7% | -118% | 232.2% |
| Working capital | ||||||||
| Receivable days | 263 | 152 | 34 | 30 | — | — | — | 56 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | 18 | 6 | — | — | — | 29 |
| NWC days | — | — | 16 | 24 | — | — | — | 28 |
| Leverage | ||||||||
| Current ratio | — | — | 1.17 | 0.66 | — | — | — | 3.03 |
| Debt to EBITDA | — | — | 40.59 | — | — | 55.33 | — | — |
| Debt to equity | 0.99 | 0.34 | 0.48 | 0.6 | 0.88 | 0.81 | 1.79 | 0.92 |
| Interest coverage | -0.7 | -0.6 | 0.8 | 0.4 | -0.1 | 0.5 | 0.4 | 0.4 |
| Asset turnover | 0.02 | 0.02 | 0.04 | 0.03 | 0.02 | 0.05 | 0.04 | 0.03 |
| Return ratios | ||||||||
| Return on assets % | — | 3.6% | -1% | -3.1% | -6% | -4.4% | -5.2% | 7.4% |
| Return on capital employed % | — | — | 3.4% | 2.4% | — | — | — | 4.6% |
| Return on equity % | — | 5.4% | -1.7% | -6.7% | -16.4% | -13% | -20.9% | 14.7% |
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.