Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 91.6% | 88.8% | 90.2% | 92.3% | 92.3% | 92.7% | 93.1% |
| EBITDA margin % | -1.5% | -25.4% | -280.1% | -28.4% | 9.2% | 15.5% | 13.8% | 7.1% |
| EBIT margin % | -7.7% | -33.6% | -351.5% | -45.9% | 2.7% | 8.2% | 6.1% | -2.5% |
| PAT margin % | -77% | 133% | -189.9% | -58.2% | 4.4% | 12% | 12.9% | 1% |
| Working capital | ||||||||
| Receivable days | 155 | 19 | 55 | 24 | 28 | 27 | 22 | 16 |
| Inventory days | 18 | 201 | 1,074 | 334 | 165 | 184 | 202 | 222 |
| Payable days | — | — | 8,774 | 3,031 | 1,942 | 1,887 | 2,327 | 2,744 |
| NWC days | — | — | -7,645 | -2,672 | -1,749 | -1,676 | -2,102 | -2,505 |
| Leverage | ||||||||
| Current ratio | 0.04 | 0.8 | 1.02 | 1.88 | 1.17 | 1.8 | 1.78 | 1.75 |
| Debt to EBITDA | — | — | — | — | 0.56 | 0.38 | 0.65 | 0.77 |
| Debt to equity | 2.89 | 0.07 | 0.09 | 0.1 | 0.02 | 0.03 | 0.04 | 0.02 |
| Interest coverage | -19.3 | -46.6 | -18 | -12.9 | 2.9 | 10.9 | 12.3 | 2.6 |
| Asset turnover | 0.04 | 0.22 | 0.03 | 0.13 | 0.31 | 0.34 | 0.32 | 0.31 |
| Return ratios | ||||||||
| Return on assets % | -2.8% | 29.4% | -6% | -7.6% | 1.4% | 4.1% | 4.1% | 0.3% |
| Return on capital employed % | -0.3% | -5% | -8.1% | -6.2% | 3.1% | 5.6% | 5.7% | 1.6% |
| Return on equity % | -44.7% | 42.4% | -8.5% | -10.3% | 1.8% | 5.4% | 5.6% | 0.4% |
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.