Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 60.1% | 59.3% | 65.1% | 43.2% | 40.2% | 41.1% | 30.4% | 59.8% |
| EBITDA margin % | -26.2% | -20.1% | 7.4% | 6.6% | 6.2% | -7.6% | -28.7% | 3.7% |
| EBIT margin % | -28.4% | -21.4% | 6.3% | 5.9% | 5.6% | -8.4% | -30.3% | 2.4% |
| PAT margin % | -25.4% | -419.6% | -4.6% | 0.4% | 20.3% | -2.7% | -105.5% | 4.2% |
| Working capital | ||||||||
| Receivable days | 618 | 119 | 99 | 125 | 130 | 123 | 101 | 68 |
| Inventory days | 325 | 3 | 1 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 9 | 7 | 867 | 343 | 328 | 488 | 584 | 709 |
| NWC days | 934 | 115 | -767 | -218 | -199 | -365 | -483 | -641 |
| Leverage | ||||||||
| Current ratio | 0.98 | 0.15 | 0.19 | 0.35 | 0.85 | 0.47 | 0.23 | 0.31 |
| Debt to EBITDA | — | — | 23.26 | 10.53 | 14.16 | — | — | 28.31 |
| Debt to equity | 1.48 | -1.07 | -1.08 | -0.8 | -1.44 | -1.13 | -0.69 | -0.97 |
| Interest coverage | 1.4 | 0.4 | 0.6 | 1.1 | 2.4 | 1.8 | -3.4 | 1.9 |
| Asset turnover | 0.09 | 0.52 | 0.58 | 0.93 | 1.14 | 1.04 | 1.02 | 1.17 |
| Return ratios | ||||||||
| Return on assets % | -2.4% | -217.4% | -2.6% | 0.4% | 23.1% | -2.8% | -107.2% | 4.9% |
| Return on capital employed % | 4.4% | 2.2% | -6.5% | -39.8% | 23.7% | 39% | 92.5% | -411.4% |
| Return on equity % | -7.9% | 179.8% | 2.8% | -0.5% | -33.3% | 3.8% | 54.7% | -3.9% |
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.