Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 71.6% | 85.5% | 69.6% | 96.3% | 70.7% | — | — |
| EBITDA margin % | 29.8% | 44% | 58.5% | 36.9% | 49.7% | 49.9% | 45.2% | 46.6% |
| EBIT margin % | -15.5% | -5.2% | 1.5% | -2.3% | 24.8% | 25.8% | 12.9% | 20.2% |
| PAT margin % | -59.6% | 0.3% | 1.3% | 0.7% | -68.5% | 17.8% | 0.7% | 0.9% |
| Working capital | ||||||||
| Receivable days | 89 | 76 | 152 | — | 107 | 106 | 111 | 46 |
| Inventory days | 0 | 6 | 477 | 260 | 1,060 | 71 | 47 | 39 |
| Payable days | 14 | 162 | 194 | — | 0 | 61 | 26 | 32 |
| NWC days | 75 | -80 | 436 | — | 1,167 | 117 | 132 | 53 |
| Leverage | ||||||||
| Current ratio | 1.32 | 1.82 | 3.47 | 0.35 | 0.92 | 0.72 | 5.33 | 18.37 |
| Debt to EBITDA | 15.04 | 10.58 | 6.34 | — | 4.3 | 1.7 | 0.69 | 0.67 |
| Debt to equity | 0.46 | 0.44 | 0.27 | — | 0.26 | 0.11 | 0.03 | 0.03 |
| Interest coverage | -0.4 | -0.1 | 1.1 | 1.1 | 3.6 | 2.2 | 1.8 | 2.4 |
| Asset turnover | 0.07 | 0.06 | 0.06 | 0.06 | 0.09 | 0.1 | 0.07 | 0.09 |
| Return ratios | ||||||||
| Return on assets % | -4.1% | 0% | 0.1% | 0% | -6.2% | 1.9% | 0.1% | 0.1% |
| Return on capital employed % | -0.9% | -0.1% | 0.8% | 0.8% | 3.2% | 3.4% | 1.5% | 2.2% |
| Return on equity % | -6.1% | 0% | 0.1% | 0.1% | -8.4% | 2.2% | 0.1% | 0.1% |
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.