Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 95.3% | 91.4% | 88.7% | ||||
Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 95.3% | 91.4% | 88.7% | ||||
| 96.6% |
| 98% |
| — |
| — |
| EBITDA margin % | -7.6% | 4.4% | 14.9% | 8% | 5.7% | -7.8% | 2.2% | -4.1% |
| EBIT margin % | -12.9% | -2.9% | 8.5% | 2.9% | 0.9% | -13.4% | -2.8% | -9.1% |
| PAT margin % | -0.3% | 1.4% | -4.8% | -12.3% | -95.7% | -28.8% | -19.2% | -9.3% |
| Working capital | ||||||||
| Receivable days | 7 | 7 | 5 | 11 | 9 | 14 | 13 | 10 |
| Inventory days | 24 | 536 | 317 | 262 | 732 | 917 | 25 | 27 |
| Payable days | 40 | 663 | 321 | 280 | 832 | 1,537 | 33 | 31 |
| NWC days | -9 | -121 | 1 | -8 | -91 | -606 | 5 | 5 |
| Leverage | ||||||||
| Current ratio | 0.29 | 0.09 | 0.11 | 0.1 | 0.07 | 0.04 | 0.06 | 0.18 |
| Debt to EBITDA | — | 50.99 | 12.34 | 21.2 | 28.84 | — | 80.09 | — |
| Debt to equity | 0.9 | 1.17 | 1.26 | 1.27 | 4.37 | 12.24 | -35.61 | -10.29 |
| Interest coverage | 0.4 | 0.3 | 0.6 | 0.2 | 0.1 | -0.6 | -0.1 | -0.5 |
| Asset turnover | 0.32 | 0.19 | 0.25 | 0.26 | 0.33 | 0.29 | 0.31 | 0.48 |
| Return ratios | ||||||||
| Return on assets % | -0.1% | 0.3% | -1.2% | -3.1% | -31.6% | -8.2% | -6% | -4.4% |
| Return on capital employed % | 7.1% | 3.5% | 5.7% | 2.2% | 2.2% | -31.1% | -16.2% | -15.9% |
| Return on equity % | -0.3% | 0.7% | -3.3% | -9.2% | -256.7% | -186.2% | 396% | 69.5% |
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.