Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 79.7% | 80.3% | 85.3% | — | — | — |
| EBITDA margin % | -2.4% | -2.5% | -9.1% | 4% | 5.3% | -2% | — | — |
| EBIT margin % | -2.4% | -13.7% | -27.7% | -10.5% | -8.8% | -17.9% | — | — |
| PAT margin % | 1.2% | -8.1% | -11.6% | -9.6% | -18.1% | 80.1% | — | — |
| Working capital | ||||||||
| Receivable days | 24 | 12 | 11 | 9 | 14 | — | — | — |
| Inventory days | 4 | 4 | 42 | 40 | 32 | — | — | — |
| Payable days | 57 | 60 | 375 | 429 | 584 | — | — | — |
| NWC days | -29 | -44 | -322 | -379 | -539 | — | — | — |
| Leverage | ||||||||
| Current ratio | 2.56 | 1.7 | 2.35 | 1.5 | 2.6 | 18.28 | 5.15 | 13.03 |
| Debt to EBITDA | — | — | — | 0 | 10.13 | — | — | — |
| Debt to equity | — | — | 0 | 0 | 0.75 | — | — | 0 |
| Interest coverage | 12.1 | -0.6 | -1.5 | -0.3 | -0.2 | -0.4 | 272 | — |
| Asset turnover | 0.97 | 0.58 | 0.41 | 0.54 | 0.63 | 0.51 | — | 0 |
| Return ratios | ||||||||
| Return on assets % | 1.2% | -4.7% | -4.8% | -5.2% | -11.4% | 41% | 1.1% | 11.4% |
| Return on capital employed % | 5.9% | -3.3% | -7.5% | -1.3% | -0.9% | -1.6% | 3.9% | 14.9% |
| Return on equity % | 1.7% | -9.6% | -9.2% | -10.7% | -25.1% | 43.3% | 1.4% | 12.3% |
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.