Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 19% | 13.9% | 15.9% | 2.9% | ||||
| 2.6% |
| 12% |
| 1.8% |
| 16% |
| EBITDA margin % | -0.1% | -37.1% | -22.2% | -45% | -49.6% | -76.7% | -30.5% | -49% |
| EBIT margin % | -3.3% | -40% | -24.9% | -47.5% | -52.6% | -83.3% | -32.2% | -54.4% |
| PAT margin % | 2.1% | 1.5% | -4.6% | -30.5% | 39.8% | 48.8% | 9.5% | 19.3% |
| Working capital | ||||||||
| Receivable days | — | — | 216 | 322 | 134 | 758 | 98 | 26 |
| Inventory days | — | — | 13 | 10 | 17 | 63 | 40 | 0 |
| Payable days | — | — | 266 | 332 | 109 | 344 | 33 | 43 |
| NWC days | — | — | -37 | -0 | 42 | 477 | 106 | -17 |
| Leverage | ||||||||
| Current ratio | — | — | 8.88 | 4.99 | 10.12 | 33.23 | 30.89 | 54.86 |
| Debt to EBITDA | — | — | — | — | — | — | — | — |
| Debt to equity | — | — | 0 | 0 | 0 | 0 | 0.01 | 0 |
| Interest coverage | 1.3 | 4 | -4.2 | -84.3 | 9 | 146 | 131 | 18.9 |
| Asset turnover | — | — | 0.04 | 0.05 | 0.04 | 0.01 | 0.08 | 0.04 |
| Return ratios | ||||||||
| Return on assets % | — | — | -0.2% | -1.5% | 1.4% | 0.7% | 0.7% | 0.8% |
| Return on capital employed % | — | — | -0.1% | -1.5% | 0.2% | 0.8% | 0.8% | 0.9% |
| Return on equity % | — | — | -0.2% | -1.6% | 1.5% | 0.7% | 0.7% | 0.8% |
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.