Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 41.9% | 40.9% | 41.5% | 34.6% | 22.7% | — | — | — |
| EBITDA margin % | 12.5% | 14.9% | 9.8% | 2.9% | 44% | -21.1% | -0.9% | -419.3% |
| EBIT margin % | 9.2% | 11.7% | 5.3% | -4.1% | 37.7% | -21.1% | -0.9% | -419.3% |
| PAT margin % | 5.5% | 5.9% | -3.6% | -30% | -110.6% | -773.7% | 17.4% | -114% |
| Working capital | ||||||||
| Receivable days | 89 | — | — | 71 | 8 | 256 | 257 | 266 |
| Inventory days | 96 | — | — | 149 | 0 | 0 | 0 | 0 |
| Payable days | — | — | — | 194 | 124 | 10,299 | 1,397 | 22 |
| NWC days | — | — | — | 26 | -116 | -10,043 | -1,140 | 244 |
| Leverage | ||||||||
| Current ratio | 0.9 | 0.91 | — | 0.46 | 0.69 | 0.67 | 1.36 | 5.92 |
| Debt to EBITDA | 3.42 | — | — | 38.49 | 1.02 | — | — | — |
| Debt to equity | 0.99 | — | — | 2.73 | 0.84 | 0.91 | 0.92 | 0.94 |
| Interest coverage | 2.1 | 2.6 | 1 | -0.2 | 2.6 | 30 | 1.9 | -10.3 |
| Asset turnover | 0.89 | 0.93 | — | 0.5 | 0.77 | 0.01 | 0.01 | 0.01 |
| Return ratios | ||||||||
| Return on assets % | 4.8% | 5.5% | — | -15.1% | -85.4% | -4.6% | 0.1% | -0.9% |
| Return on capital employed % | 22.7% | 30% | — | -3.4% | 33.6% | 1% | 0.4% | -2.1% |
| Return on equity % | 12.6% | 13.8% | — | -74.6% | -206.8% | -11.8% | 0.3% | -1.8% |
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.