Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 98.9% | 48.6% | 73.5% | ||||
| 72.9% |
| 59.7% |
| 36.5% |
| 67.9% |
| EBITDA margin % | 10.4% | -2.1% | 24.6% | 14.1% | 10.5% | 5.9% | 13.2% | 13.6% |
| EBIT margin % | 6.3% | -8.4% | 22% | 8.6% | 5% | 4.6% | 12.4% | 9.7% |
| PAT margin % | 4.5% | -12.6% | -5.5% | 1,758.3% | 96.3% | 16.5% | 13.7% | 20.1% |
| Working capital | ||||||||
| Receivable days | 66 | 47 | 22 | 49 | 43 | 20 | 15 | 39 |
| Inventory days | 507 | 63,443 | 168 | 958 | 983 | 892 | 41 | 151 |
| Payable days | — | — | 75 | 277 | 206 | 214 | 69 | 215 |
| NWC days | — | — | 116 | 730 | 819 | 697 | -14 | -24 |
| Leverage | ||||||||
| Current ratio | 0.78 | 0.71 | 0.72 | 0.61 | 1 | 0.98 | 1.54 | 2.3 |
| Debt to EBITDA | 4.86 | — | 1.09 | 3.06 | 0.48 | 0 | 0 | 0 |
| Debt to equity | 0.49 | 0.7 | 0.89 | 2.61 | 0.06 | 0 | 0 | 0 |
| Interest coverage | 2.7 | -0.7 | 10 | 2.7 | 27.7 | 26.1 | 77.6 | 31.9 |
| Asset turnover | 0.3 | 0.23 | 1.06 | 0.51 | 0.47 | 0.34 | 0.86 | 0.35 |
| Return ratios | ||||||||
| Return on assets % | 1.4% | -2.8% | -5.9% | 903.5% | 45.2% | 5.6% | 11.7% | 7% |
| Return on capital employed % | 9.4% | -3% | 53% | 19.9% | 135.6% | 15.3% | 25.8% | 10.9% |
| Return on equity % | 4.4% | -12.2% | -18.2% | 10,591.9% | 115.3% | 16.7% | 17.2% | 9.2% |
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.