Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 21.6% | -17.9% | -11.1% | 44.8% | 69% |
| EBITDA margin % | -64.6% | -107.6% | -65.8% | 5.8% | -28.9% | -40.4% | -84% | 50.4% |
| EBIT margin % | -64.8% | -114.8% | -74.5% | 4.2% | -29.5% | -41.4% | -91.3% | 49.3% |
| PAT margin % | -59.9% | -175.6% | -258.7% | -9.1% | -20.1% | -14.4% | -49.2% | 41% |
| Working capital | ||||||||
| Receivable days | — | — | 1,152 | 208 | 113 | 210 | 251 | 0 |
| Inventory days | — | — | 4,418 | 1,683 | 374 | 556 | 6,473 | 1,466 |
| Payable days | — | — | 1,224 | 463 | 140 | 125 | 1,770 | 78 |
| NWC days | — | — | 4,345 | 1,429 | 347 | 641 | 4,954 | 1,388 |
| Leverage | ||||||||
| Current ratio | — | — | 1 | 0.95 | 0.84 | 0.76 | 0.68 | 0.75 |
| Debt to EBITDA | — | — | — | 40.12 | — | — | — | 2.51 |
| Debt to equity | — | — | 3.65 | 4.99 | 20.94 | -91.14 | -21.45 | 3.71 |
| Interest coverage | -4.8 | -1.1 | 0.6 | 0.7 | -1.3 | -0.6 | 0.3 | 7.1 |
| Asset turnover | — | — | 0.03 | 0.14 | 0.42 | 0.24 | 0.04 | 0.37 |
| Return ratios | ||||||||
| Return on assets % | — | — | -6.7% | -1.3% | -8.4% | -3.5% | -1.9% | 15.2% |
| Return on capital employed % | — | — | 13.7% | 26% | -65.9% | -87% | 21.5% | 221.6% |
| Return on equity % | — | — | -91.4% | -19.6% | -373.6% | 562% | 74.6% | 120.5% |
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.