Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 55.1% | 72% | 49.2% | 80.3% | 75.1% | 40.4% |
| EBITDA margin % | -54.8% | -63.3% | -44.6% | -11.1% | -185% | -43.9% |
| EBIT margin % | -57.1% | -64.9% | -46.9% | -13.7% | -190.9% | -45.9% |
| PAT margin % | 12.1% | -19.4% | 37.3% | 72.8% | -90.6% | 3.9% |
| Working capital | ||||||
| Receivable days | 116 | 49 | 43 | 23 | 127 | 46 |
| Inventory days | 1,687 | 1,513 | 1,844 | 4,330 | 8,948 | 1,756 |
| Payable days | 218 | 182 | 117 | 193 | 381 | 87 |
| NWC days | 1,584 | 1,380 | 1,770 | 4,160 | 8,694 | 1,715 |
| Leverage | ||||||
| Current ratio | 1.49 | 1.92 | 1.86 | 2.22 | 2 | 1.95 |
| Debt to EBITDA | — | — | — | — | — | — |
| Debt to equity | 0.2 | 0.16 | 0.22 | 0.17 | 0.23 | 0.27 |
| Interest coverage | 1.1 | -0.5 | 2.3 | 4.3 | -1.5 | 1.1 |
| Asset turnover | 0.06 | 0.1 | 0.06 | 0.06 | 0.03 | 0.07 |
| Return ratios | ||||||
| Return on assets % | 0.8% | -2% | 2.4% | 4.5% | -2.5% | 0.3% |
| Return on capital employed % | 3.7% | -1.1% | 5.8% | 8.9% | -3.1% | 2.6% |
| Return on equity % | 1.2% | -2.7% | 3.3% | 5.9% | -3.6% | 0.5% |
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.