Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 90.1% | 95% | 97.2% | 98.4% | 91.4% | — | — | 33.5% |
| EBITDA margin % | -19.7% | 5.6% | 4.2% | -130.9% | -898% | — | — | 11.8% |
| EBIT margin % | -23.8% | -11.4% | -16.6% | -154.9% | -1,042.1% | — | — | 9.2% |
| PAT margin % | 1.7% | 2.8% | 8.4% | 39.6% | 582.7% | — | — | 127.3% |
| Working capital | ||||||||
| Receivable days | 590 | 800 | 626 | 232 | 0 | — | — | 330 |
| Inventory days | — | — | — | — | 0 | — | — | 57 |
| Payable days | 1,951 | 4,226 | 7,371 | 12,543 | 537 | — | — | 185 |
| NWC days | — | — | — | — | -537 | — | — | 202 |
| Leverage | ||||||||
| Current ratio | — | — | — | — | 2.52 | 2.03 | 0.81 | 2.37 |
| Debt to EBITDA | — | 7.5 | — | — | — | — | — | 3.58 |
| Debt to equity | 0.08 | 0.06 | — | — | 0.74 | 0.71 | 0.65 | 0.14 |
| Interest coverage | 1.2 | 1.1 | 1.5 | 2.3 | 2 | 1.5 | 1.5 | 24.6 |
| Asset turnover | 0.08 | 0.07 | 0.06 | 0.06 | 0.01 | 0 | 0 | 0.25 |
| Return ratios | ||||||||
| Return on assets % | 0.1% | 0.2% | 0.5% | 2.2% | 3% | 1.9% | 2% | 32% |
| Return on capital employed % | — | — | — | — | 6% | 7% | 7.3% | 54.9% |
| Return on equity % | 0.3% | 0.4% | 0.9% | 3% | 5.9% | 3.7% | 4% | 42.3% |
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.