Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | 96% | 98.5% |
| EBITDA margin % | -47% | -20.1% | 8.8% | 17.8% | 11.6% | 8.9% | 11.4% | 8.9% |
| EBIT margin % | -65.1% | -29.6% | 3.3% | 11.5% | 4.8% | 3.7% | 8.3% | 5.8% |
| PAT margin % | -73.8% | -56.6% | -2.2% | 5.9% | 3.1% | 2.8% | 7.6% | 4.5% |
| Working capital | ||||||||
| Receivable days | — | — | 209 | 151 | 149 | 137 | 60 | 122 |
| Inventory days | — | — | 9 | 7 | 3 | 1 | 0 | 0 |
| Payable days | — | — | — | — | — | 1 | 328 | 6,683 |
| NWC days | — | — | — | — | — | 138 | -267 | -6,561 |
| Leverage | ||||||||
| Current ratio | — | — | 1.12 | 0.84 | 1.9 | 1.89 | 2.4 | 1.55 |
| Debt to EBITDA | — | — | 8.08 | 2.78 | 1.98 | 2.05 | 0 | 0.77 |
| Debt to equity | — | — | 0.69 | 0.8 | 0.33 | 0.15 | 0 | 0.09 |
| Interest coverage | -4.4 | -2.3 | 0.8 | 1.8 | 1.7 | 2.1 | 5.2 | 7.6 |
| Asset turnover | — | — | 0.48 | 0.71 | 0.81 | 0.61 | 0.9 | 0.74 |
| Return ratios | ||||||||
| Return on assets % | — | — | -1% | 4.2% | 2.5% | 1.7% | 6.8% | 3.4% |
| Return on capital employed % | — | — | 6.7% | 16.4% | 10.1% | 5.1% | 10.9% | 8.6% |
| Return on equity % | — | — | -2.1% | 9.5% | 4.4% | 2.3% | 8.9% | 6.1% |
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.