Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 98.7% | 66.1% | — | 41.4% | ||||
| 74% |
| 67.8% |
| 82% |
| 83.5% |
| EBITDA margin % | 72% | -1,390.6% | -233.2% | 21.8% | 62.1% | 62.2% | 76.4% | 46% |
| EBIT margin % | 69.6% | -1,511.7% | -273.9% | 20.2% | 61% | 61.1% | 75.3% | 40.8% |
| PAT margin % | 11.8% | -3,700.6% | -1,111.8% | 0% | 36.6% | 45.6% | 56.3% | 28.5% |
| Working capital | ||||||||
| Receivable days | — | — | 0 | 335 | 130 | 64 | 82 | 344 |
| Inventory days | — | — | 477 | 1,084 | 1,595 | 411 | 681 | 5,108 |
| Payable days | — | — | 217 | 60 | 74 | 36 | 116 | 674 |
| NWC days | — | — | 260 | 1,359 | 1,650 | 439 | 648 | 4,778 |
| Leverage | ||||||||
| Current ratio | — | — | 2.31 | 4.17 | 3.26 | 2.78 | 3.3 | 2.15 |
| Debt to EBITDA | — | — | — | 3.65 | 0.02 | 0.02 | 0.01 | 4.87 |
| Debt to equity | — | — | 0.43 | 0.11 | 0 | 0.01 | 0 | 0.19 |
| Interest coverage | 1.4 | -0.5 | -0 | 1 | 20.3 | 357.8 | 638.4 | 90.7 |
| Asset turnover | — | — | 0 | 0.11 | 0.21 | 0.42 | 0.4 | 0.06 |
| Return ratios | ||||||||
| Return on assets % | — | — | -4.8% | 0% | 7.8% | 19.2% | 22.6% | 1.8% |
| Return on capital employed % | — | — | -0.2% | 3% | 16.2% | 33.3% | 37.4% | 3.4% |
| Return on equity % | — | — | -7.2% | 0% | 9.6% | 22.3% | 25.3% | 2.4% |
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.