Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 10.5% | 32.7% | 39.4% | 40.4% | 38.8% | 38.9% | 40.2% | 40.7% |
| EBIT margin % | -28.6% | -20.7% | -15.5% | -19.4% | -14.5% | -13.1% | -9.5% | -7.8% |
| PAT margin % | -38.1% | -163.6% | -111.1% | -73.9% | -69.9% | -73.9% | -63.6% | 77.7% |
| Working capital | ||||||||
| Receivable days | — | — | 21 | 23 | 18 | 18 | 16 | 15 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 0 | — | 190 | 213 | 195 | 197 | 153 | 122 |
| NWC days | — | — | -169 | -191 | -177 | -179 | -137 | -107 |
| Leverage | ||||||||
| Current ratio | 1,808.33 | — | 0.29 | 0.35 | 0.3 | 0.31 | 0.62 | 0.55 |
| Debt to EBITDA | — | — | 10.98 | 12.38 | 12.4 | 12.64 | 11.33 | 8.1 |
| Debt to equity | — | — | -4.78 | -3.11 | -2.73 | -2.01 | -2.81 | -4.14 |
| Interest coverage | -1 | -0.5 | -0.3 | -0.3 | -0.2 | -0.2 | -0.1 | -0.1 |
| Asset turnover | 4.78 | — | 0.21 | 0.2 | 0.2 | 0.23 | 0.22 | 0.24 |
| Return ratios | ||||||||
| Return on assets % | -182.4% | — | -22.8% | -14.6% | -14.1% | -16.9% | -13.9% | 18.4% |
| Return on capital employed % | -120.5% | — | -4.5% | -5.4% | -4.1% | -3.9% | -2.2% | -2% |
| Return on equity % | -227.1% | — | 122.8% | 46% | 39.7% | 30.1% | 39.3% | -97.5% |
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.