Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 76.4% | 27.6% | 93.3% | 22.6% | 25.9% | 27.7% | 32% | 24.9% |
| EBITDA margin % | -11.9% | -17% | -35.7% | -31.4% | -30.3% | -15.4% | -38.9% | -30.5% |
| EBIT margin % | -19.7% | -25.7% | -43.8% | -39.1% | -39.8% | -20.5% | -47.9% | -37.2% |
| PAT margin % | 21% | 38.8% | 7.1% | 3% | 8.4% | 8.7% | 8.1% | 6.8% |
| Working capital | ||||||||
| Receivable days | — | — | 69 | 36 | 19 | 80 | 103 | 56 |
| Inventory days | — | — | 2,841 | 321 | 321 | 150 | 422 | 350 |
| Payable days | — | — | 399 | 66 | 64 | 66 | 118 | 84 |
| NWC days | — | — | 2,512 | 291 | 276 | 164 | 407 | 323 |
| Leverage | ||||||||
| Current ratio | — | — | 13.26 | 7.51 | 10.72 | 9.13 | 9.52 | 9.61 |
| Debt to EBITDA | — | — | — | — | — | — | — | — |
| Debt to equity | — | — | 0.03 | 0.04 | 0.05 | 0.05 | 0.05 | 0.04 |
| Interest coverage | 9.2 | 13.7 | 4.6 | 1.2 | 2.5 | 4.5 | 4.1 | 2 |
| Asset turnover | — | — | 0.11 | 0.12 | 0.1 | 0.15 | 0.08 | 0.11 |
| Return ratios | ||||||||
| Return on assets % | — | — | 0.8% | 0.3% | 0.8% | 1.3% | 0.6% | 0.7% |
| Return on capital employed % | — | — | 0.8% | 0.4% | 1.2% | 2% | 1.9% | 0.7% |
| Return on equity % | — | — | 0.8% | 0.4% | 0.9% | 1.4% | 0.7% | 0.8% |
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.