Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 21.1% | 18.1% | 10.7% | 10.1% | 5.9% | 16.5% | 1.9% |
| EBITDA margin % | 16.9% | -3.1% | -2.7% | -11.8% | -34.6% | -92.6% | -115% | -170.3% |
| EBIT margin % | 8.1% | -8% | -6.2% | -14.7% | -37.9% | -96.3% | -121.6% | -176.3% |
| PAT margin % | -22.6% | 78.2% | -1.1% | -25.1% | -394.8% | -454.5% | -523.2% | -256% |
| Working capital | ||||||||
| Receivable days | 437 | 1,150 | 615 | 725 | 608 | 343 | 656 | 5 |
| Inventory days | 1 | 1 | 1 | 1 | 2 | 0 | 0 | 0 |
| Payable days | 420 | 844 | 409 | 439 | 789 | 1,386 | 2,670 | 1,719 |
| NWC days | 18 | 307 | 208 | 287 | -180 | -1,043 | -2,014 | -1,715 |
| Leverage | ||||||||
| Current ratio | 1.62 | 1.77 | 1.41 | 1.33 | 1.16 | 1.12 | 0.47 | 0.41 |
| Debt to EBITDA | 9.26 | — | — | — | — | — | — | — |
| Debt to equity | 0.35 | 0.4 | 0.37 | 0.38 | 0.46 | 0.49 | 0.08 | 0.02 |
| Interest coverage | 1.8 | 2.1 | 0.6 | 0.4 | -0 | -0.1 | -0.3 | -0.8 |
| Asset turnover | 0.11 | 0.06 | 0.08 | 0.07 | 0.05 | 0.03 | 0.02 | 0.01 |
| Return ratios | ||||||||
| Return on assets % | -2.6% | 4.4% | -0.1% | -1.8% | -18.3% | -12.8% | -9.2% | -2.1% |
| Return on capital employed % | 10.2% | 10.7% | 5.2% | 2.4% | -0.1% | -1% | -1.6% | -1.5% |
| Return on equity % | -5.1% | 9.9% | -0.2% | -3.6% | -43.5% | -30.6% | -18.6% | -2.5% |
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.