Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 10.8% | -3.7% | -8.2% | -30.4% | 2.6% | -0.9% | -12.8% | 25.4% |
| EBIT margin % | 6.1% | -12.2% | -25.6% | -57.9% | -15.4% | -64.4% | -89.1% | 6% |
| PAT margin % | 2.3% | -10.1% | -305.4% | -115.5% | -296.5% | -69.4% | -109.8% | 24% |
| Working capital | ||||||||
| Receivable days | 114 | 97 | 156 | 160 | 37 | 45 | 227 | 73 |
| Inventory days | 2 | 4 | 7 | 2 | — | 0 | 0 | 0 |
| Payable days | — | — | — | 320 | 24 | 15 | 61 | 46 |
| NWC days | — | — | — | -157 | — | 30 | 166 | 27 |
| Leverage | ||||||||
| Current ratio | 1.31 | 0.88 | 0.19 | 0.14 | 1.31 | 0.67 | 0.36 | 1.83 |
| Debt to EBITDA | 5.42 | — | — | — | 54.89 | — | — | 7 |
| Debt to equity | 1.27 | 0.7 | -1.3 | -1.33 | 3.23 | 5.67 | 14.86 | 1.85 |
| Interest coverage | 2.4 | -3 | -0.8 | -40.9 | -4 | -1 | -0.7 | 0.7 |
| Asset turnover | 0.63 | 0.44 | 0.42 | 0.28 | 0.49 | 0.13 | 0.07 | 0.31 |
| Return ratios | ||||||||
| Return on assets % | 1.5% | -4.4% | -126.9% | -32.4% | -146.1% | -9.3% | -8.2% | 7.3% |
| Return on capital employed % | 7.7% | -9.5% | 2,175% | 12.9% | -8.1% | -7.6% | -8.8% | 12.6% |
| Return on equity % | 5.1% | -16.3% | 182% | 27.8% | -667.9% | -63.5% | -156.9% | 25% |
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.