Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 4.7% | 3.5% | 63.8% | 11.8% | 7.2% | 85% | — | 89.4% |
| EBITDA margin % | 0.6% | -0.3% | -0.2% | 5.2% | -45% | -3,044% | -5,154.6% | -5,327% |
| EBIT margin % | 0.6% | -0.3% | -0.2% | 5.1% | -46.6% | -3,125.3% | -5,322.3% | -5,477.7% |
| PAT margin % | 0.3% | -0.9% | -2.9% | -2.9% | 394.8% | 1,277.3% | 2,584.8% | 6,219.1% |
| Working capital | ||||||||
| Receivable days | 3 | 31 | 12 | 6 | 180 | 8,354 | 16,152 | 2,573 |
| Inventory days | 4 | 3 | 2 | 1 | 2 | 164 | 1 | 0 |
| Payable days | — | 0 | 0 | 0 | 358 | 1,09,372 | 618 | 2,41,437 |
| NWC days | — | 34 | 13 | 7 | -177 | -1,00,854 | 15,535 | -2,38,864 |
| Leverage | ||||||||
| Current ratio | — | — | — | — | 1.52 | 1.61 | 1.67 | 3.4 |
| Debt to EBITDA | 5.08 | — | — | 5.91 | — | — | — | — |
| Debt to equity | 0.62 | 4.36 | 24.41 | 13.19 | 0.03 | 0 | 0 | 0 |
| Interest coverage | 3 | -0.3 | -0.1 | 2.3 | -0.2 | 45.9 | 21.7 | -12.3 |
| Asset turnover | 6.51 | 3.77 | 4.82 | 1.76 | 0.08 | 0 | 0 | 0 |
| Return ratios | ||||||||
| Return on assets % | 1.8% | -3.5% | -14.1% | -5.1% | 32.9% | 2.2% | 2.2% | 8.9% |
| Return on capital employed % | — | — | — | — | -2% | 2.4% | 8.1% | -0.6% |
| Return on equity % | 5.5% | -25.7% | -771.7% | -125.1% | 85.1% | 5% | 4.8% | 12.5% |
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.