Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 48.8% | 34% | 47% | 56% | 20.4% | 30.9% | 66.3% | 60.1% |
| EBITDA margin % | -56.7% | -57.4% | -60.5% | -161.9% | -60.5% | -66.1% | -144.4% | -147.8% |
| EBIT margin % | -58% | -58.4% | -69.1% | -177.4% | -60.8% | -70.5% | -150% | -152% |
| PAT margin % | 88% | 950.2% | 117.2% | 304.9% | 13.7% | 51% | 61.5% | 64.3% |
| Working capital | ||||||||
| Receivable days | 57 | 46 | 70 | 67 | 125 | 113 | 179 | 84 |
| Inventory days | 483 | 175 | 300 | 552 | 87 | 129 | 517 | 339 |
| Payable days | 113 | 116 | 170 | 119 | 38 | 203 | 829 | 552 |
| NWC days | 427 | 105 | 200 | 500 | 174 | 39 | -132 | -130 |
| Leverage | ||||||||
| Current ratio | 0 | 0 | 0.56 | 0.54 | 0.64 | 0.68 | 0.78 | 0.8 |
| Debt to EBITDA | — | — | — | — | — | — | — | — |
| Debt to equity | 1.92 | 0.34 | 1.64 | 1.5 | 1.48 | 1.4 | 1.35 | 1.31 |
| Interest coverage | 59.4 | 1,403 | 2.8 | 5.5 | 8.1 | — | 25 | 230.7 |
| Asset turnover | 0.02 | 0.02 | 0.02 | 0.01 | 0.04 | 0.04 | 0.02 | 0.02 |
| Return ratios | ||||||||
| Return on assets % | 1.6% | 21.6% | 2.3% | 3.2% | 0.5% | 1.8% | 1.2% | 1.2% |
| Return on capital employed % | 3.8% | 6.2% | 10.6% | 11.1% | 3.9% | 3.9% | 3.9% | 3.3% |
| Return on equity % | 14.7% | 68.7% | 7.1% | 9% | 1.6% | 5.3% | 3.4% | 3.4% |
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.