Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 56.3% | 52.5% | 40.9% | 12.4% | 6.8% | -122.2% | — | -1.8% |
| EBITDA margin % | 1.9% | -6.3% | -1,743.2% | -658.8% | -1,369.9% | -703.2% | 54.2% | -8.9% |
| EBIT margin % | 0.2% | -15.5% | -1,754.5% | -662.9% | -1,375.3% | -711.1% | 53.5% | -8.9% |
| PAT margin % | -0.3% | -20.4% | -634.1% | -552.6% | -1,323.3% | -685.7% | 97.9% | -0.2% |
| Working capital | ||||||||
| Receivable days | 37 | 15 | 1,643 | 519 | 560 | 533 | 272 | 377 |
| Inventory days | 153 | 1 | 0 | 0 | 709 | 0 | 0 | 190 |
| Payable days | 39 | 63 | 1,502 | 185 | 220 | 34 | 79 | 539 |
| NWC days | 151 | -47 | 140 | 335 | 1,048 | 499 | 194 | 28 |
| Leverage | ||||||||
| Current ratio | 1.66 | 2.64 | 4.13 | 4.84 | 6.72 | 6.59 | 6.58 | 1.22 |
| Debt to EBITDA | 1.99 | — | — | — | — | — | 0 | — |
| Debt to equity | 0.13 | 0.06 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | 1 | -2.1 | -13 | -10.2 | -18.9 | — | — | — |
| Asset turnover | 1.82 | 2.64 | 0.01 | 0.03 | 0.03 | 0.04 | 0.08 | 0.38 |
| Return ratios | ||||||||
| Return on assets % | -0.5% | -54% | -6.3% | -15.2% | -44.9% | -26.6% | 7.6% | -0.1% |
| Return on capital employed % | 3.7% | -28.1% | -7.4% | -15.9% | -39.8% | -26.6% | 10.8% | 1.5% |
| Return on equity % | -0.9% | -86.2% | -8.4% | -19.3% | -53.2% | -31% | 9.1% | -0.2% |
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.