Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 98.8% | — | ||||
| — |
| — |
| — |
| — |
| EBITDA margin % | -10.8% | -38.2% | -65.8% | -14.6% | -10% | -14.2% | 0.3% | -13.2% |
| EBIT margin % | -10.8% | -52.6% | -93.9% | -33.6% | -21.8% | -26.1% | -10.7% | -23.4% |
| PAT margin % | -4.3% | -35.2% | -1.6% | 18.1% | -0.7% | -1.5% | 15.8% | -6% |
| Working capital | ||||||||
| Receivable days | 43 | — | 115 | 68 | 50 | 25 | 35 | 23 |
| Inventory days | 5 | — | 1,014 | 7 | 3 | 2 | 0 | 0 |
| Payable days | — | — | 4,096 | 23 | 22 | 22 | 27 | 30 |
| NWC days | — | — | -2,967 | 52 | 30 | 5 | 8 | -8 |
| Leverage | ||||||||
| Current ratio | 1.96 | — | 2.41 | 2.49 | 3.18 | 1.2 | 1 | 0.78 |
| Debt to EBITDA | — | — | — | — | — | — | 7.14 | — |
| Debt to equity | — | — | 0 | 0 | 0 | 0 | 0.01 | 0.02 |
| Interest coverage | -15 | -121.5 | 1 | 11.4 | 0.3 | -0.6 | 21.3 | -6.2 |
| Asset turnover | 0.4 | — | 0.18 | 0.23 | 0.35 | 0.41 | 0.42 | 0.42 |
| Return ratios | ||||||||
| Return on assets % | -1.7% | — | -0.3% | 4.2% | -0.2% | -0.6% | 6.6% | -2.5% |
| Return on capital employed % | -0.6% | — | 0.3% | 4.5% | 0.1% | -0.3% | 9.2% | -2.3% |
| Return on equity % | -2% | — | -0.3% | 4.7% | -0.3% | -0.7% | 8.1% | -3% |
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.