Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 40.3% | 31.3% | 74.1% | 36% | 39.5% | 34.8% | 47.9% | 60.4% |
| EBITDA margin % | -149.1% | -49.5% | 6.7% | -182.1% | -816% | -92.9% | 21.5% | 33% |
| EBIT margin % | -177.2% | -61.3% | -3.2% | -209% | -935.5% | -105% | 20% | 31.7% |
| PAT margin % | -276.7% | 55.1% | 2.4% | -309.3% | -993% | -105.8% | 26.9% | 18.9% |
| Working capital | ||||||||
| Receivable days | — | — | 300 | 775 | 1,712 | 7 | 37 | 271 |
| Inventory days | — | — | 754 | 761 | 3,686 | 2,080 | 191 | 803 |
| Payable days | — | — | 307 | 337 | 956 | 574 | 58 | 957 |
| NWC days | — | — | 747 | 1,198 | 4,442 | 1,513 | 170 | 117 |
| Leverage | ||||||||
| Current ratio | — | — | 1.98 | 2.02 | 4.21 | 2.41 | 2.64 | 1.31 |
| Debt to EBITDA | — | — | 13.15 | — | — | — | 0.98 | 1.15 |
| Debt to equity | — | — | 0.2 | 0.2 | 0.09 | 0.2 | 0.23 | 0.63 |
| Interest coverage | -5.2 | 7.3 | 1.5 | -3.9 | -8.8 | -8.1 | 5.9 | 4.9 |
| Asset turnover | — | — | 0.16 | 0.07 | 0.02 | 0.11 | 0.77 | 0.46 |
| Return ratios | ||||||||
| Return on assets % | — | — | 0.4% | -20.1% | -17.8% | -11.8% | 20.8% | 8.7% |
| Return on capital employed % | — | — | 1.8% | -14.1% | -22.6% | -16.8% | 26.6% | 60.6% |
| Return on equity % | — | — | 0.5% | -28.3% | -21.5% | -16.8% | 29.3% | 31.5% |
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.