Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | -3% | 54.9% | 1.3% | 6.1% | 8.7% | 16.8% | 2.6% | -13.1% |
| EBIT margin % | -3% | 54.9% | 0% | 5.9% | 8.7% | 16.7% | 2.3% | -13.4% |
| PAT margin % | 0.3% | 57.5% | -5.1% | 2% | 6.9% | 10.3% | 3.1% | 19.9% |
| Working capital | ||||||||
| Receivable days | 110 | — | 7,799 | 661 | 185 | 286 | 1,738 | 2,096 |
| Inventory days | 488 | — | 15,232 | 1,369 | 538 | 259 | 1,192 | 1,319 |
| Payable days | — | — | — | — | — | 232 | 869 | 771 |
| NWC days | — | — | — | — | — | 313 | 2,061 | 2,645 |
| Leverage | ||||||||
| Current ratio | — | — | — | — | — | 1.89 | 3.37 | 4.45 |
| Debt to EBITDA | — | — | 291 | 15.21 | 3.53 | 1.27 | 3.46 | — |
| Debt to equity | 0.46 | — | 0.08 | 0.25 | 0.33 | 0.26 | 0.01 | 0 |
| Interest coverage | 0.7 | 130.2 | 0 | — | 6.4 | 14 | 3.4 | 64 |
| Asset turnover | 0.46 | — | 0.01 | 0.15 | 0.42 | 0.59 | 0.07 | 0.05 |
| Return ratios | ||||||||
| Return on assets % | 0.1% | — | -0.1% | 0.3% | 2.9% | 6.1% | 0.2% | 0.9% |
| Return on capital employed % | — | — | — | — | — | 21.1% | 0.7% | 1.6% |
| Return on equity % | 1% | — | -0.1% | 0.5% | 7.3% | 12.8% | 0.3% | 1.1% |
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.