Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 39.3% | 42.8% | 37.9% | 70% | 40.3% | — |
| EBITDA margin % | 51.4% | 29.7% | 20.9% | 10% | 6.9% | 55.5% | -25.7% | -63.7% |
| EBIT margin % | 50.4% | 23.2% | 10.6% | -2.5% | -4.6% | 50.6% | -39.5% | -88.5% |
| PAT margin % | 44.1% | 6.7% | 42.3% | 8.6% | 0.7% | 48.2% | -13.8% | 562.7% |
| Working capital | ||||||||
| Receivable days | 14 | 21 | 41 | 17 | 3 | 4 | 4 | 2 |
| Inventory days | 19 | 35 | 63 | 85 | 60 | 20 | 19 | 0 |
| Payable days | 31 | — | 23 | 29 | 28 | 17 | 20 | — |
| NWC days | 2 | — | 81 | 73 | 35 | 7 | 3 | — |
| Leverage | ||||||||
| Current ratio | 0.52 | 0.55 | 1.1 | 1.61 | 1.29 | 10.49 | 3.08 | 34.29 |
| Debt to EBITDA | 1.31 | 3.7 | 9.26 | 21.16 | 19.42 | 0.78 | — | — |
| Debt to equity | 0.14 | 0.12 | 0.09 | 0.09 | 0.07 | 0.04 | 0.01 | 0 |
| Interest coverage | 8.4 | 3.7 | 4 | 3.7 | 3.8 | 22.2 | 1 | 11.6 |
| Asset turnover | 0.18 | 0.09 | 0.04 | 0.04 | 0.05 | 0.07 | 0.04 | 0.03 |
| Return ratios | ||||||||
| Return on assets % | 7.9% | 0.6% | 1.8% | 0.3% | 0% | 3.6% | -0.5% | 16.8% |
| Return on capital employed % | 10.6% | 4.8% | 3.2% | 2.3% | 2.4% | 10.4% | 0.4% | 3.7% |
| Return on equity % | 9.5% | 0.7% | 2.1% | 0.4% | 0% | 3.9% | -0.6% | 17.4% |
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.