Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 11.7% | 5.8% | 11.2% | 42.2% | 32.1% | 50% |
| EBITDA margin % | -26.2% | -11.6% | -35.9% | -18.4% | -33.2% | -68.7% |
| EBIT margin % | -26.8% | -12.1% | -36.9% | -19.7% | -34.2% | -71.5% |
| PAT margin % | -15% | -7.4% | -37.9% | -34.1% | -48.9% | -121.2% |
| Working capital | ||||||
| Receivable days | 109 | 19 | 241 | 7 | 7 | 24 |
| Inventory days | 5 | 0 | 56 | 1 | 0 | 0 |
| Payable days | 114 | 67 | 127 | 217 | 160 | 335 |
| NWC days | 0 | -48 | 170 | -209 | -153 | -311 |
| Leverage | ||||||
| Current ratio | 0.82 | 0.69 | 1.64 | 0.44 | 0.98 | 1.16 |
| Debt to EBITDA | — | — | — | — | — | — |
| Debt to equity | -2.3 | -2.47 | -1.62 | -0.97 | -1.16 | -1.29 |
| Interest coverage | -3.6 | -3 | -1 | -0.7 | -1 | -0.5 |
| Asset turnover | 0.59 | 0.86 | 0.82 | 1.4 | 0.7 | 0.24 |
| Return ratios | ||||||
| Return on assets % | -8.8% | -6.4% | -31% | -47.6% | -34.3% | -28.6% |
| Return on capital employed % | -57.4% | -73.8% | -29.1% | -30.3% | -65.2% | -43.1% |
| Return on equity % | 53% | 25.3% | 35.2% | 15.8% | 17.3% | 18.6% |
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.