Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 85.4% | 94.9% | 97.2% | — | — | — | 98% |
| EBITDA margin % | -74.7% | -17.3% | 8.9% | 33.5% | 34.6% | 16% | 17.6% | 39.6% |
| EBIT margin % | -95.7% | -42.8% | -14.7% | 13.1% | 14% | -11.4% | -5% | 25.9% |
| PAT margin % | -58.7% | -28% | -4.3% | 23.2% | 5.1% | -18.6% | -618.3% | -37% |
| Working capital | ||||||||
| Receivable days | 961 | — | 1,149 | 1,066 | 1,137 | 1,473 | 227 | 47 |
| Inventory days | 23 | — | 422 | 527 | 24 | 24 | 23 | 211 |
| Payable days | — | — | 8,678 | 13,890 | 698 | 599 | 464 | 11,296 |
| NWC days | — | — | -7,107 | -12,297 | 463 | 898 | -213 | -11,037 |
| Leverage | ||||||||
| Current ratio | 1.54 | — | 1.5 | 1.5 | 1.42 | 1.35 | 1.01 | 1.08 |
| Debt to EBITDA | — | — | 20.84 | 4.83 | 5.39 | 18.59 | 11.58 | 2.39 |
| Debt to equity | 0.11 | — | 0.13 | 0.13 | 0.15 | 0.18 | 0.26 | 0.21 |
| Interest coverage | -2.5 | -0.3 | 0.8 | 2.1 | 1.2 | -0.3 | -0 | 4.2 |
| Asset turnover | 0.05 | — | 0.05 | 0.05 | 0.05 | 0.04 | 0.08 | 0.15 |
| Return ratios | ||||||||
| Return on assets % | -3.2% | — | -0.2% | 1.2% | 0.2% | -0.7% | -52.2% | -5.6% |
| Return on capital employed % | -3.9% | — | 1.1% | 3.2% | 1.9% | -0.3% | -0% | 5.9% |
| Return on equity % | -4.7% | — | -0.3% | 1.8% | 0.4% | -1.1% | -78% | -8.3% |
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.