Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 21.9% | 31.3% | 25.1% | 1.9% | -56.5% | 7.4% | 20.5% | 20.3% |
| EBIT margin % | -14.3% | -3% | -18% | -57.8% | -138.1% | -33.5% | -20.7% | -30.3% |
| PAT margin % | -110.7% | -91.6% | -28.1% | -131.1% | 580.9% | -403.7% | -24.3% | -32.8% |
| Working capital | ||||||||
| Receivable days | 60 | 70 | 92 | 65 | 45 | 56 | 59 | 86 |
| Inventory days | 288 | 288 | 132 | 114 | 87 | 126 | 121 | 118 |
| Payable days | 2 | 2 | 54 | 56 | 96 | 99 | 82 | 110 |
| NWC days | 347 | 356 | 171 | 123 | 36 | 83 | 98 | 93 |
| Leverage | ||||||||
| Current ratio | 0.24 | 0.19 | 0.1 | 0.08 | 0.69 | 0.51 | 1.82 | 1.06 |
| Debt to EBITDA | 15.24 | 7.87 | 25.82 | 458.87 | — | 9.55 | 2.23 | 8.15 |
| Debt to equity | 1.13 | 1.38 | 3.62 | 8.58 | 0.18 | 0.21 | 0.11 | 0.46 |
| Interest coverage | -0.3 | -0.1 | -0.6 | -1.4 | -12.9 | -1.2 | -3.4 | -1.5 |
| Asset turnover | 0.1 | 0.11 | 0.1 | 0.08 | 0.1 | 0.21 | 0.19 | 0.17 |
| Return ratios | ||||||||
| Return on assets % | -11.2% | -10.2% | -2.8% | -10.6% | 60.4% | -85.5% | -4.7% | -5.7% |
| Return on capital employed % | -2.1% | -0.4% | -4.8% | -21.5% | -27.6% | -1.5% | -5.2% | -4% |
| Return on equity % | -37.5% | -51.1% | -15.7% | -130.3% | 78.3% | -122.6% | -5.7% | -9.1% |
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.