Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 5.1% | 4.7% | 5.5% | 9.6% | 3.5% | 85% | — | 89.4% |
| EBITDA margin % | 0.6% | 0.6% | -0.2% | 3.7% | -3.1% | -3,043.8% | -5,154.6% | -5,327% |
| EBIT margin % | 0.6% | 0.6% | -0.2% | 3.7% | -3.2% | -3,125.1% | -5,322.3% | -5,477.7% |
| PAT margin % | 0.4% | 0.4% | -2.6% | -2.2% | 44.3% | 3,598.9% | 3,220.4% | 11,360.1% |
| Working capital | ||||||||
| Receivable days | 5 | 24 | 7 | 12 | 42 | 26,845 | 16,152 | 2,573 |
| Inventory days | 4 | 3 | 1 | 1 | 0 | 164 | 1 | 0 |
| Payable days | — | 0 | 0 | 0 | 37 | 1,53,948 | 618 | 2,41,437 |
| NWC days | — | 27 | 7 | 13 | 5 | -1,26,939 | 15,535 | -2,38,864 |
| Leverage | ||||||||
| Current ratio | — | — | — | — | 1.48 | 1.56 | 1.67 | 3.4 |
| Debt to EBITDA | 5.28 | 20.48 | — | 5.94 | — | — | — | — |
| Debt to equity | 0.76 | 3.15 | 5.64 | -17.7 | 0.14 | 0.09 | 0 | 0 |
| Interest coverage | 3 | 3 | -0.2 | 2.2 | -0.2 | 45.9 | 21.7 | -12.3 |
| Asset turnover | 6.72 | 4.47 | 5.45 | 2.47 | 0.96 | 0 | 0 | 0 |
| Return ratios | ||||||||
| Return on assets % | 2.5% | 1.7% | -14.3% | -5.5% | 42.5% | 5.2% | 2.5% | 13.9% |
| Return on capital employed % | — | — | — | — | -1.4% | 2.1% | 6.9% | -0.5% |
| Return on equity % | 8.6% | 9.2% | -186.8% | 177.2% | 110.7% | 11.8% | 5.1% | 18.3% |
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.