Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 87.8% | 40.3% | 24.6% | -4% | 31.3% | — |
| EBITDA margin % | -15.8% | -143.2% | -30.8% | -79.7% | -74% | -51.6% | 2.5% | -0.6% |
| EBIT margin % | -17.5% | -147.8% | -38.4% | -85.6% | -78.3% | -55.3% | 2.3% | -0.7% |
| PAT margin % | -11.4% | -157.7% | -3% | -48.7% | -41.3% | -28.6% | 5.7% | 0.3% |
| Working capital | ||||||||
| Receivable days | 368 | 549 | 174 | 354 | 137 | 192 | 149 | 149 |
| Inventory days | 3 | 1 | 265 | 73 | 29 | 0 | 35 | 29 |
| Payable days | — | — | 1,977 | 674 | 216 | 251 | 217 | — |
| NWC days | — | — | -1,538 | -247 | -50 | -58 | -33 | — |
| Leverage | ||||||||
| Current ratio | 0.83 | 1.06 | 1.12 | 1.13 | 1.7 | 1.64 | 1.47 | 1.09 |
| Debt to EBITDA | — | — | — | — | — | — | 3.15 | — |
| Debt to equity | 0.14 | 0.47 | 0.4 | 0.23 | 0.03 | 0 | 0.22 | 0.61 |
| Interest coverage | -0.6 | -8 | 1 | -2.4 | -7.6 | -16.6 | 8.1 | 1.6 |
| Asset turnover | 0.5 | 0.36 | 0.31 | 0.28 | 0.45 | 0.35 | 1.01 | 1.44 |
| Return ratios | ||||||||
| Return on assets % | -5.7% | -57.2% | -0.9% | -13.5% | -18.7% | -10% | 5.8% | 0.4% |
| Return on capital employed % | -4.9% | -72.9% | 7.6% | -15% | -24.1% | -16% | 14.1% | 6.8% |
| Return on equity % | -12.4% | -216.3% | -2.3% | -33.5% | -31.5% | -16.4% | 15.8% | 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.