Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 94.2% | 72.3% | 82.2% | 83.7% | 91.3% | 81.3% |
| EBITDA margin % | -120% | -47.5% | -76% | 14.9% | 73.7% | -139.7% | -27.8% | 20.7% |
| EBIT margin % | -124.6% | -53.1% | -86.9% | 13.1% | 73% | -162.1% | -35.3% | 5.4% |
| PAT margin % | -316% | -213.5% | -451.9% | -195.3% | 135.4% | 778.4% | -31.5% | -11.1% |
| Working capital | ||||||||
| Receivable days | 14 | 13 | 33 | 13 | 4 | 77 | 18 | 106 |
| Inventory days | 302 | 1,931 | 1,20,687 | 8,827 | 3,571 | 13,624 | 7,769 | 1,182 |
| Payable days | — | — | 549 | 58 | 16 | 1,595 | 822 | 503 |
| NWC days | — | — | 1,20,171 | 8,781 | 3,560 | 12,106 | 6,966 | 785 |
| Leverage | ||||||||
| Current ratio | 0.71 | 1.08 | 0.87 | 0.66 | 3.31 | 1.32 | 1.35 | 1.14 |
| Debt to EBITDA | — | — | — | 51.51 | 1.4 | — | — | 12.75 |
| Debt to equity | 0.27 | 4.84 | 31.61 | -8.16 | 1.23 | 0.18 | 0.1 | 1.08 |
| Interest coverage | -0.8 | -0.3 | -0.2 | 0.1 | 12.8 | -1 | 0.5 | 0.8 |
| Asset turnover | 0.04 | 0.07 | 0.03 | 0.1 | 0.52 | 0.02 | 0.07 | 0.11 |
| Return ratios | ||||||||
| Return on assets % | -12.8% | -15.3% | -14.2% | -18.8% | 70.2% | 17.4% | -2.3% | -1.3% |
| Return on capital employed % | -7.1% | -4.3% | -8.4% | 24.9% | 52.9% | -1.9% | 0.5% | 5.6% |
| Return on equity % | -19.1% | -154.3% | -717.3% | 208.4% | 160.6% | 28.8% | -3.8% | -4.6% |
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.