Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 12.9% | 32.3% | — | 4.3% | 10% | 32.5% |
| EBITDA margin % | -2.4% | -1% | -5.5% | -6% | — | -73.9% | -280% | 19.3% |
| EBIT margin % | -2.4% | -1% | -6.3% | -7.5% | — | -78.3% | -300% | 18.5% |
| PAT margin % | 3.3% | 1.2% | 3.1% | 6.8% | — | -21.7% | -180% | 16.2% |
| Working capital | ||||||||
| Receivable days | — | — | 115 | 27 | — | 175 | 0 | 1 |
| Inventory days | — | — | 242 | 235 | — | 2,721 | 24,577 | 871 |
| Payable days | — | — | 21 | 4 | — | 25 | 122 | 10 |
| NWC days | — | — | 336 | 259 | — | 2,871 | 24,455 | 862 |
| Leverage | ||||||||
| Current ratio | — | — | 3.64 | 3.58 | 4.25 | 4.99 | 4.98 | 2.18 |
| Debt to EBITDA | — | — | — | — | — | — | — | 5.88 |
| Debt to equity | — | — | 0.33 | 1.31 | 0.9 | 1.47 | 1.75 | 0.43 |
| Interest coverage | — | — | 2.2 | 2 | 2.1 | 0.8 | 0.7 | 2.4 |
| Asset turnover | — | — | 0.24 | 0.09 | 0 | 0.03 | 0.01 | 0.15 |
| Return ratios | ||||||||
| Return on assets % | — | — | 0.7% | 0.6% | 0.9% | -0.6% | -1% | 2.4% |
| Return on capital employed % | — | — | 2.5% | 3.3% | 1.9% | 3.2% | 2.9% | 8% |
| Return on equity % | — | — | 1.2% | 1.4% | 1.6% | -1.5% | -2.8% | 6.2% |
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.