Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | ||||
| — |
| — |
| — |
| — |
| EBITDA margin % | 12.8% | 33.1% | 36% | 52.1% | 5.1% | 9% | -31.2% | 10.3% |
| EBIT margin % | -10.5% | -18% | -49.2% | 0.1% | -75.1% | -82.2% | -104.3% | -103.8% |
| PAT margin % | -20.5% | 126.4% | 35.8% | 240.4% | -60% | -1% | 467.6% | -9.8% |
| Working capital | ||||||||
| Receivable days | 110 | — | 163 | 8 | 10 | 59 | 13 | 27 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | 177 | 51 | 83 | 249 | 404 | 832 |
| NWC days | — | — | -14 | -43 | -74 | -189 | -392 | -805 |
| Leverage | ||||||||
| Current ratio | 1.2 | — | 2.74 | 5.45 | 6.99 | 5.38 | 0.44 | 0.65 |
| Debt to EBITDA | 18.65 | — | 9.13 | 3.67 | 97.09 | 66.67 | — | 69.44 |
| Debt to equity | 0.37 | — | 0.19 | 0.15 | 0.13 | 0.13 | 0.11 | 0.03 |
| Interest coverage | 0.4 | -0 | 1.5 | 2.3 | 0.4 | 1 | -0.9 | -0.4 |
| Asset turnover | 0.09 | — | 0.04 | 0.06 | 0.02 | 0.02 | 0.02 | 0 |
| Return ratios | ||||||||
| Return on assets % | -1.9% | — | 1.5% | 14.4% | -1.3% | -0% | 8.6% | -0% |
| Return on capital employed % | 1.6% | — | 5.4% | 4.2% | 0.5% | 1.3% | -1.2% | -0.2% |
| Return on equity % | -3.2% | — | 2.1% | 18.4% | -1.6% | -0% | 10.6% | -0% |
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.