Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 12.2% | 18.5% | 19.1% | 28.2% | 1.9% | 26.7% | 20.5% | 24.3% |
| EBIT margin % | -29.3% | -26.3% | -19.7% | -6.3% | -32.6% | 6.4% | 2.4% | 7.1% |
| PAT margin % | -102.6% | -131.5% | -90.2% | -100.8% | -124.6% | -49.7% | -65.1% | 56.8% |
| Working capital | ||||||||
| Receivable days | 26 | 20 | 27 | 22 | 33 | 84 | 22 | 11 |
| Inventory days | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 1 |
| Payable days | 0 | 0 | 6 | 10 | 11 | 12 | 8 | 2 |
| NWC days | 27 | 21 | 22 | 13 | 23 | 74 | 15 | 10 |
| Leverage | ||||||||
| Current ratio | 0.11 | 0.12 | 0.11 | 0.11 | 0.1 | 0.11 | 0.12 | 0.09 |
| Debt to EBITDA | — | — | 16.14 | 9.79 | 132.71 | 9.13 | 11.58 | 16.22 |
| Debt to equity | — | — | -3.38 | -1.47 | -0.81 | -0.66 | -0.54 | -1.04 |
| Interest coverage | -0.8 | -0.5 | -0.4 | -0.1 | -0.6 | 0.2 | 0.1 | 0.3 |
| Asset turnover | 0.2 | 0.19 | 0.22 | 0.26 | 0.34 | 0.33 | 0.33 | 0.44 |
| Return ratios | ||||||||
| Return on assets % | -20.3% | -25.1% | -19.7% | -26.5% | -42.5% | -16.2% | -21.3% | 24.9% |
| Return on capital employed % | -8.6% | -29.8% | 251% | 3.7% | 11.4% | -3.1% | -1% | -43.3% |
| Return on equity % | -92.2% | 964.1% | 98.7% | 53.7% | 40% | 13.4% | 14.7% | -14.9% |
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.