Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 97.9% | 97.1% | — | — | — | — | — | — |
| EBITDA margin % | -89.1% | -73.9% | -27.5% | 3.1% | -29.1% | -38% | 1.8% | 2.3% |
| EBIT margin % | -95.6% | -80.4% | -33.1% | -0.1% | -31.4% | -40.7% | -4.7% | -3.9% |
| PAT margin % | -568.8% | -423.4% | -112% | -53.8% | -99.6% | -125.2% | 169.5% | 13.6% |
| Working capital | ||||||||
| Receivable days | 157 | — | 102 | 72 | 81 | 96 | 121 | 127 |
| Inventory days | 180 | — | 1 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | 50 | 33 | 36 | 51 | 85 | 72 |
| NWC days | — | — | 52 | 39 | 44 | 45 | 36 | 55 |
| Leverage | ||||||||
| Current ratio | 0.03 | — | 0.02 | 0.01 | 0.02 | 0.02 | 0.22 | 0.23 |
| Debt to EBITDA | — | — | — | 468.17 | — | — | 83.26 | 68.25 |
| Debt to equity | 1.23 | — | 2.25 | 2.57 | 2.66 | 4 | 0.6 | 0.63 |
| Interest coverage | -1.5 | -0.9 | -0.3 | 0.1 | -0.4 | -0.4 | -0.3 | -0.3 |
| Asset turnover | 0.03 | — | 0.03 | 0.05 | 0.05 | 0.06 | 0.23 | 0.22 |
| Return ratios | ||||||||
| Return on assets % | -15.4% | — | -3.6% | -2.5% | -5.1% | -7.1% | 38.6% | 3% |
| Return on capital employed % | -8.5% | — | -2.9% | 0.9% | -5.4% | -9.5% | -2.5% | -1% |
| Return on equity % | -37.3% | — | -12.8% | -9.6% | -19% | -36.6% | 68.8% | 5.4% |
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.