Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 79.5% | 82.9% | 75.4% | ||||
| 77.5% |
| 22.3% |
| 53.4% |
| 78.2% |
| EBITDA margin % | 4.7% | 5.6% | -11.3% | -3.7% | -17.8% | -61.7% | -76.9% | -2.6% |
| EBIT margin % | 0.9% | -2.8% | -17.5% | -12.2% | -28.2% | -74% | -85.9% | -9.9% |
| PAT margin % | -199.5% | -222.4% | -263.9% | -668.1% | -1,170.7% | -2,005.8% | -2,155.4% | 8,871.4% |
| Working capital | ||||||||
| Receivable days | 464 | 1,285 | 1,218 | 2,294 | 3,879 | 5,220 | 4,585 | 4,663 |
| Inventory days | 25 | 284 | 319 | 447 | 701 | 287 | 74 | 110 |
| Payable days | — | — | 15 | 25 | 241 | 0 | 143 | 511 |
| NWC days | — | — | 1,522 | 2,715 | 4,338 | 5,506 | 4,516 | 4,262 |
| Leverage | ||||||||
| Current ratio | 0.28 | 0.23 | 0.21 | 0.17 | 0.16 | 0.14 | 0.11 | 0.41 |
| Debt to EBITDA | 70.65 | 116.59 | — | — | — | — | — | — |
| Debt to equity | -1.9 | -0.99 | -1.32 | -0.96 | -0.79 | -0.6 | -0.46 | 6.16 |
| Interest coverage | 0.1 | 0 | -0 | -0 | -0 | -0 | -0 | -0 |
| Asset turnover | 0.2 | 0.08 | 0.09 | 0.05 | 0.03 | 0.02 | 0.02 | 0.02 |
| Return ratios | ||||||||
| Return on assets % | -40.4% | -17.8% | -23.7% | -31% | -34.8% | -43.4% | -53.7% | 216.8% |
| Return on capital employed % | 11.8% | -0.3% | 1.3% | 0.2% | 0.2% | 0.9% | 0.6% | -1.5% |
| Return on equity % | 115.4% | 33.8% | 30.7% | 28.2% | 25.8% | 24.5% | 22.9% | 2,443.5% |
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.