Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 98.6% | 98.9% | — | — | — | — | — | — |
| EBITDA margin % | 4.3% | 10.3% | 6.5% | 2.8% | -27% | -19.3% | -28.9% | -43.5% |
| EBIT margin % | -2% | 1.5% | -0.7% | -2% | -33.7% | -28.3% | -43% | -60.3% |
| PAT margin % | 4.4% | 341.4% | 14.6% | 32% | -10.9% | 26.8% | 28.7% | -8.7% |
| Working capital | ||||||||
| Receivable days | 107 | 97 | 72 | 73 | 33 | 62 | 53 | 70 |
| Inventory days | 40 | 39 | 0 | 0 | 0 | 0 | 0 | 2 |
| Payable days | 4,398 | 4,499 | 56 | 51 | 40 | 57 | 57 | 50 |
| NWC days | -4,252 | -4,362 | 17 | 22 | -7 | 5 | -4 | 22 |
| Leverage | ||||||||
| Current ratio | 0.86 | 7.79 | 9.3 | 6.7 | 9.53 | 10.39 | 11.97 | 9.59 |
| Debt to EBITDA | 10.33 | 0.18 | 0.3 | 0.08 | — | — | — | — |
| Debt to equity | 0.2 | 0 | 0 | 0 | 0.01 | 0 | 0 | 0 |
| Interest coverage | 2.8 | 11.6 | 34 | 153.8 | -17.8 | 33.8 | 51.4 | -4.4 |
| Asset turnover | 0.32 | 0.23 | 0.21 | 0.29 | 0.15 | 0.12 | 0.11 | 0.11 |
| Return ratios | ||||||||
| Return on assets % | 1.4% | 78.5% | 3.1% | 9.3% | -1.6% | 3.2% | 3.2% | -0.9% |
| Return on capital employed % | 5.9% | 12.3% | 7% | 9.8% | -1.2% | 3.8% | 3.7% | -0.3% |
| Return on equity % | 2% | 89.1% | 3.4% | 10.4% | -1.7% | 3.4% | 3.4% | -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.