Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 4.8% | ||||
| 4.1% |
| 3.2% |
| 4.8% |
| 1% |
| EBITDA margin % | -402.7% | -218.3% | -120.3% | -106.1% | -91.8% | -79.9% | -123% | -56% |
| EBIT margin % | -402.7% | -298.1% | -155.4% | -138.1% | -120.5% | -103.2% | -194.7% | -77.9% |
| PAT margin % | 56.8% | 217.3% | 95.9% | 249.8% | 179.9% | -779.9% | 189.3% | 101.3% |
| Working capital | ||||||||
| Receivable days | — | — | — | 24 | 1 | 13 | 4 | 1 |
| Inventory days | — | — | — | 2 | 0 | 0 | 0 | 0 |
| Payable days | — | — | — | 15 | 17 | 12 | 31 | 9 |
| NWC days | — | — | — | 10 | -16 | 1 | -27 | -8 |
| Leverage | ||||||||
| Current ratio | — | — | — | 3.77 | 0.47 | 2.31 | 7.51 | 12.33 |
| Debt to EBITDA | — | — | — | — | — | — | — | — |
| Debt to equity | — | — | — | 0.1 | 0.1 | 0 | 0 | 0 |
| Interest coverage | 2 | 3.9 | 4.2 | 10.5 | 8.1 | 4.6 | 9.4 | 14.5 |
| Asset turnover | — | — | — | 0.05 | 0.05 | 0.18 | 0.08 | 0.18 |
| Return ratios | ||||||||
| Return on assets % | — | — | — | 11.4% | 8.2% | -136.9% | 15.8% | 18.6% |
| Return on capital employed % | — | — | — | 14.1% | 11.8% | 19% | 20.5% | 25.5% |
| Return on equity % | — | — | — | 15% | 10.4% | -190.3% | 20.3% | 22.6% |
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.