Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | — | — | — | — | — | — |
| EBITDA margin % | -63% | -59% | -28.2% | -13.6% | -26.9% | 4% |
| EBIT margin % | -68.8% | -64.9% | -36% | -23% | -38.8% | -2.9% |
| PAT margin % | -58.5% | -59.7% | -30.8% | -19.3% | -14.3% | 1.2% |
| Working capital | ||||||
| Receivable days | 67 | 66 | 69 | 70 | 81 | 44 |
| Inventory days | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 52 | 42 | 37 | 24 | 32 | 34 |
| NWC days | 16 | 24 | 32 | 46 | 49 | 10 |
| Leverage | ||||||
| Current ratio | 3.45 | 4.31 | 4.1 | 4.36 | 2.81 | 5.42 |
| Debt to EBITDA | — | — | — | — | — | 0 |
| Debt to equity | 0.08 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | -43.4 | -58.9 | -80.9 | -53 | -96.9 | 29.4 |
| Asset turnover | 0.28 | 0.24 | 0.39 | 0.51 | 0.32 | 0.4 |
| Return ratios | ||||||
| Return on assets % | -16.5% | -14.2% | -11.9% | -9.8% | -4.5% | 0.5% |
| Return on capital employed % | -19.6% | -20.7% | -13.1% | -9.7% | -11.7% | 3.8% |
| Return on equity % | -22.3% | -17% | -15.1% | -12% | -6.1% | 0.5% |
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.