Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | -1.5% | 2.7% | ||||
| 13.7% |
| 0.5% |
| 41.7% |
| — |
| EBITDA margin % | -0.5% | -11.4% | -30.5% | -105.8% | -36.6% | -58.4% | -22.3% | — |
| EBIT margin % | -0.7% | -12.1% | -34.3% | -116.5% | -42.6% | -64% | -28.1% | — |
| PAT margin % | -1.8% | -14.2% | -19.6% | -217.4% | -14.6% | -56.3% | 38.3% | — |
| Working capital | ||||||||
| Receivable days | — | — | 0 | 0 | 0 | 0 | 0 | — |
| Inventory days | — | — | 506 | 1,411 | 655 | 186 | 0 | — |
| Payable days | — | — | 1,827 | 6,058 | 4,357 | 3,523 | 6,534 | — |
| NWC days | — | — | -1,321 | -4,646 | -3,702 | -3,337 | -6,534 | — |
| Leverage | ||||||||
| Current ratio | — | — | 0.49 | 0.47 | 0.43 | 0.37 | 0.43 | 0.45 |
| Debt to EBITDA | — | — | — | — | — | — | — | — |
| Debt to equity | — | — | 3.02 | 20.72 | 47.03 | -6.44 | -10.6 | -6.58 |
| Interest coverage | 0.2 | -2.4 | 0.1 | -1 | -0.3 | -1.9 | 3.8 | -0.2 |
| Asset turnover | — | — | 0.1 | 0.03 | 0.05 | 0.06 | 0.06 | 0 |
| Return ratios | ||||||||
| Return on assets % | — | — | -1.9% | -7% | -0.8% | -3.4% | 2.2% | -0.7% |
| Return on capital employed % | — | — | 0.5% | -4.5% | -1.3% | -6.7% | 11.5% | -0.1% |
| Return on equity % | — | — | -26.1% | -601.2% | -170% | 115.3% | -231.6% | 43.6% |
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.