Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 70.9% | 73.6% | — | -3.4% | 12.2% | 0% | — |
| EBITDA margin % | -1.3% | -26.2% | -22.8% | -257.6% | -423.8% | -751.2% | -56,900% | 82.5% |
| EBIT margin % | -3.4% | -33.8% | -28.1% | -289.3% | -582.6% | -1,675.6% | -1,25,700% | 82% |
| PAT margin % | -1% | -14.1% | -13.8% | -212.8% | -763.5% | -1,417.1% | -1,33,900% | 76.2% |
| Working capital | ||||||||
| Receivable days | 26 | 35 | 26 | 4 | 18 | 0 | 0 | 0 |
| Inventory days | 102 | 588 | 2,288 | 730 | 10,198 | 68,615 | 49,39,910 | 11,653 |
| Payable days | 143 | 800 | 780 | 804 | 12,570 | 83,103 | 59,15,555 | 13,494 |
| NWC days | -15 | -177 | 1,534 | -70 | -2,354 | -14,488 | -9,75,645 | -1,841 |
| Leverage | ||||||||
| Current ratio | 0.78 | 0.45 | 1.21 | 0.55 | 0.47 | 0.48 | 0.5 | 0.54 |
| Debt to EBITDA | — | — | — | — | — | — | — | 4.52 |
| Debt to equity | 0.53 | 0.71 | 0.93 | 0.74 | 1.39 | 2.34 | 3.88 | 2.03 |
| Interest coverage | 0.6 | -1 | -0.9 | -7.6 | -3.1 | -0.7 | -2.7 | 5.1 |
| Asset turnover | 0.9 | 0.24 | 0.27 | 0.05 | 0.01 | 0 | 0 | 0.06 |
| Return ratios | ||||||||
| Return on assets % | -0.9% | -3.4% | -3.7% | -11.6% | -8.8% | -2.9% | -3.4% | 4.7% |
| Return on capital employed % | 2.5% | -2.9% | -2.3% | -27.3% | -27.6% | -9.9% | -14.7% | 25.3% |
| Return on equity % | -3.1% | -12.7% | -14.6% | -59.1% | -74.1% | -29.2% | -50.8% | 41.5% |
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.