Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | -92.8% | -18.5% | 3.5% | -10.1% | 11% | -7.5% | 0.4% | -8.7% |
| EBIT margin % | -92.8% | -19.2% | 2.9% | -10.7% | 10.7% | -7.9% | -0% | -11.8% |
| PAT margin % | -57% | -1.5% | 15.3% | 17.9% | 11.2% | -7.5% | 4.8% | -11.3% |
| Working capital | ||||||||
| Receivable days | — | — | 11 | 4 | 96 | 84 | 83 | 369 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | 20 | 83 | 49 | 72 | 46 | 14 |
| NWC days | — | — | -9 | -80 | 46 | 12 | 37 | 355 |
| Leverage | ||||||||
| Current ratio | — | — | 0.76 | 0.69 | 0.75 | 1.22 | 2.78 | 1.37 |
| Debt to EBITDA | — | — | 33.59 | — | 5.89 | — | 74.2 | — |
| Debt to equity | — | — | 2.35 | 1.28 | 1.2 | 1.18 | 0.23 | 0.55 |
| Interest coverage | -5 | 1.4 | 2.2 | 2.9 | 2.8 | 0.6 | 1.5 | 0.2 |
| Asset turnover | — | — | 0.4 | 0.27 | 0.61 | 0.38 | 0.6 | 0.24 |
| Return ratios | ||||||||
| Return on assets % | — | — | 6% | 4.7% | 6.9% | -2.9% | 2.9% | -2.7% |
| Return on capital employed % | — | — | 31% | 29.7% | 39.3% | 10.3% | 14.6% | 2.1% |
| Return on equity % | — | — | 30.6% | 27.1% | 20.9% | -7.1% | 3.9% | -6.7% |
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.