Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 97.4% | 36.5% | 31.5% | 36.9% | ||||
| 36% |
| — |
| — |
| 3.9% |
| EBITDA margin % | 2.8% | 0% | -19% | -0.9% | -9.1% | — | — | -11.1% |
| EBIT margin % | 0.5% | -2.4% | -25.7% | -4.4% | -16.2% | — | — | -11% |
| PAT margin % | -5.2% | -6.7% | -77.8% | -16.8% | -179.9% | — | — | -212.9% |
| Working capital | ||||||||
| Receivable days | — | — | 18 | 12 | 0 | — | — | 61 |
| Inventory days | — | — | 106 | 58 | 7 | — | — | 10 |
| Payable days | — | — | 75 | 62 | 199 | — | — | 78 |
| NWC days | — | — | 49 | 7 | -192 | — | — | -8 |
| Leverage | ||||||||
| Current ratio | — | — | 0.24 | 0.18 | 0.07 | 0.04 | 0.05 | 0.12 |
| Debt to EBITDA | — | — | — | — | — | — | — | — |
| Debt to equity | — | — | 1.19 | 1.56 | 0.97 | 3.04 | 4.25 | -1.3 |
| Interest coverage | 0.1 | -0.3 | -1.3 | -0.3 | -0.7 | — | — | -5.6 |
| Asset turnover | — | — | 0.3 | 0.54 | 0.08 | 0 | 0 | 0.45 |
| Return ratios | ||||||||
| Return on assets % | — | — | -23.1% | -9.1% | -15.2% | -10.6% | -13.1% | -95.9% |
| Return on capital employed % | — | — | -14.2% | -4.9% | -2.3% | 0% | -1.2% | -24.1% |
| Return on equity % | — | — | -59.2% | -29.9% | -66.7% | -81.1% | -105.5% | 151.5% |
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.