Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | -23.1% | — | 55.5% | 33.9% | 62.4% | 63.4% | 61.2% | 24.8% |
| EBITDA margin % | -63.5% | -36.8% | -14.4% | -1.8% | 13.8% | 15.5% | 4.8% | -4.4% |
| EBIT margin % | -66.7% | -70.9% | -36.9% | -9.7% | 5.7% | 8.9% | -2.2% | -8.1% |
| PAT margin % | -95.2% | -710.2% | -12.8% | -6.4% | -5% | -4.8% | 422.2% | 54.7% |
| Working capital | ||||||||
| Receivable days | — | — | 300 | 42 | 55 | 55 | 75 | 79 |
| Inventory days | — | — | 111 | 40 | 88 | 121 | 77 | 22 |
| Payable days | — | — | 477 | 47 | 92 | 171 | 116 | 104 |
| NWC days | — | — | -67 | 35 | 51 | 6 | 36 | -3 |
| Leverage | ||||||||
| Current ratio | — | — | 0.15 | 0.06 | 0.06 | 0.07 | 0.15 | 0.56 |
| Debt to EBITDA | — | — | — | — | 61.96 | 47.5 | 66.83 | — |
| Debt to equity | — | — | -1.47 | -1.38 | -1.37 | -1.34 | -1.69 | -1.57 |
| Interest coverage | -11.7 | -7.9 | -9.6 | -6.9 | 0.4 | 0.5 | 0.2 | -0.1 |
| Asset turnover | — | — | 0.14 | 0.46 | 0.39 | 0.42 | 0.41 | 1.6 |
| Return ratios | ||||||||
| Return on assets % | — | — | -1.8% | -2.9% | -1.9% | -2% | 174.2% | 87.7% |
| Return on capital employed % | — | — | 2.2% | 0.9% | -1.2% | -2% | -3.6% | -6.1% |
| Return on equity % | — | — | 1% | 1.2% | 0.8% | 0.9% | -223.2% | -86.1% |
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.