Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 20.6% | 63% | 48.7% | 52.4% | 36.6% | 60.6% | 66.9% | 49% |
| EBITDA margin % | -152.4% | -39.4% | 0.2% | -30.9% | -24.4% | 3.9% | -2.2% | -4.3% |
| EBIT margin % | -186.7% | -56.4% | -7.6% | -42.1% | -33.9% | -1.9% | -8.8% | -8.8% |
| PAT margin % | 27.6% | -96.8% | -4.2% | -39.7% | -34.1% | 1% | -4.9% | -7.2% |
| Working capital | ||||||||
| Receivable days | 96 | 41 | 37 | 36 | 17 | 11 | 25 | 27 |
| Inventory days | 203 | 619 | 180 | 421 | 260 | 278 | 541 | 218 |
| Payable days | — | 847 | 257 | 472 | 289 | 316 | 586 | 231 |
| NWC days | — | -188 | -39 | -15 | -12 | -27 | -21 | 15 |
| Leverage | ||||||||
| Current ratio | 0.15 | 1.27 | 1.29 | 1.02 | 0.79 | 0.74 | 0.84 | 1 |
| Debt to EBITDA | — | — | 124.16 | — | — | 8.81 | — | — |
| Debt to equity | 0.38 | 0.07 | 0.12 | 0.2 | 0.31 | 0.38 | 0.73 | 0.93 |
| Interest coverage | -1.7 | -11.1 | -0.7 | -12.3 | -5.2 | 1.3 | -0.7 | -0.7 |
| Asset turnover | 0.07 | 0.14 | 0.43 | 0.31 | 0.36 | 0.48 | 0.36 | 0.49 |
| Return ratios | ||||||||
| Return on assets % | 1.8% | -13.4% | -1.8% | -12.3% | -12.1% | 0.5% | -1.8% | -3.5% |
| Return on capital employed % | -20.4% | -6.8% | -0.7% | -15.6% | -10.6% | 3.7% | -2.1% | -3.4% |
| Return on equity % | 6.3% | -17.1% | -2.8% | -22.5% | -26.9% | 1.1% | -4.9% | -10.5% |
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.