Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 78% | — | 73.8% | 69% | 90.2% | 88.1% | 9.6% | 9.6% |
| EBITDA margin % | 5.7% | -116.8% | 19.3% | 0.7% | -4.2% | -22.2% | -8.3% | -35% |
| EBIT margin % | 1.5% | -124.8% | 16.1% | -3.2% | -8.5% | -26.6% | -9.3% | -35.7% |
| PAT margin % | 0.8% | 99.9% | 14.7% | -46.6% | -5.5% | -20.5% | 20.7% | 2.1% |
| Working capital | ||||||||
| Receivable days | 0 | — | 0 | 0 | 16 | 10 | 27 | 61 |
| Inventory days | 0 | — | 0 | 0 | 928 | 471 | 0 | 0 |
| Payable days | 29 | — | 1 | 3 | 430 | 274 | 30 | 66 |
| NWC days | -29 | — | -1 | -3 | 515 | 207 | -4 | -6 |
| Leverage | ||||||||
| Current ratio | 31.22 | — | 21.28 | 7.01 | 0.8 | 0.4 | 10.86 | 8.82 |
| Debt to EBITDA | 5.14 | — | 0.97 | 28.17 | — | — | — | — |
| Debt to equity | 0.06 | — | 0.04 | 0.03 | 0.12 | 0.22 | 0.02 | 0.02 |
| Interest coverage | 2 | 4 | 18.8 | 27.3 | -3.2 | -9.2 | 20.5 | 9.5 |
| Asset turnover | 0.19 | — | 0.21 | 0.15 | 0.27 | 0.38 | 0.15 | 0.14 |
| Return ratios | ||||||||
| Return on assets % | 0.1% | — | 3.2% | -6.9% | -1.5% | -7.8% | 3.1% | 0.3% |
| Return on capital employed % | 0.6% | — | 5.3% | 3.8% | -0.9% | -11% | 6.3% | 1.5% |
| Return on equity % | 0.2% | — | 3.4% | -7.3% | -2% | -11.4% | 3.2% | 0.3% |
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.