Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 1.2% | 2.8% | 0.8% | 0% | 6.6% | 6.6% |
| EBITDA margin % | -18.5% | -8.8% | -20.3% | -41.3% | -14.3% | -57.7% |
| EBIT margin % | -29.9% | -17.9% | -43.9% | -60.7% | -31.6% | -80.8% |
| PAT margin % | -37% | 8.8% | 124.4% | -118% | -40.3% | -178.6% |
| Working capital | ||||||
| Receivable days | 162 | 0 | 383 | 387 | 119 | 0 |
| Inventory days | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 525 | 185 | 805 | 523 | 156 | 0 |
| NWC days | -363 | -185 | -422 | -136 | -36 | 0 |
| Leverage | ||||||
| Current ratio | 0.19 | 0.01 | 0.25 | 0.44 | 0.28 | 0.23 |
| Debt to EBITDA | — | — | — | — | — | — |
| Debt to equity | -2.23 | -2.32 | -3.07 | -2.8 | -2.48 | -1.78 |
| Interest coverage | 0.5 | 1.3 | 2.1 | 0.2 | -2.3 | -0.5 |
| Asset turnover | 0.16 | 0.22 | 0.08 | 0.1 | 0.15 | 0.17 |
| Return ratios | ||||||
| Return on assets % | -5.9% | 2% | 10% | -12% | -5.9% | -29.9% |
| Return on capital employed % | 9.7% | 176.4% | 29.8% | 5.7% | -5.1% | -11.5% |
| Return on equity % | 14.5% | -4.5% | -32.6% | 27.4% | 10.9% | 31% |
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.