Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 1% | 11% | ||||
| 19.8% |
| 0% |
| 10.3% |
| 58.8% |
| EBITDA margin % | -17.4% | -30.2% | -38.5% | -12.4% | -17.7% | -243.5% | -32.8% | -102.9% |
| EBIT margin % | -17.4% | -30.1% | -39.4% | -13.8% | -19.8% | -247.8% | -35.3% | -111.8% |
| PAT margin % | — | -9.6% | 15.4% | 11% | 2.1% | -43.5% | -31.9% | -67.7% |
| Working capital | ||||||||
| Receivable days | — | — | 340 | 315 | 274 | 1,127 | 44 | 569 |
| Inventory days | — | — | 560 | 436 | 673 | 2,000 | 481 | 3,520 |
| Payable days | — | — | 0 | 51 | 81 | 16 | 77 | 521 |
| NWC days | — | — | 900 | 699 | 866 | 3,110 | 448 | 3,567 |
| Leverage | ||||||||
| Current ratio | — | — | 69.71 | 15.21 | 1 | 0.99 | 0.8 | 1.95 |
| Debt to EBITDA | — | — | — | — | — | — | — | — |
| Debt to equity | — | — | 0.01 | 0 | 0.5 | 0.37 | 0.34 | 0.29 |
| Interest coverage | — | — | — | — | — | — | -1.1 | -0.8 |
| Asset turnover | — | — | 0.15 | 0.2 | 0.09 | 0.02 | 0.13 | 0.04 |
| Return ratios | ||||||||
| Return on assets % | — | — | 2.3% | 2.2% | 0.2% | -1.1% | -4.1% | -2.5% |
| Return on capital employed % | — | — | 2.5% | 2.6% | 0.4% | -1.3% | -2.8% | -1.5% |
| Return on equity % | — | — | 2.4% | 2.3% | 0.3% | -1.5% | -5.7% | -3.7% |
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.