Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 32.4% | 26.9% | 15.6% | 19.6% | 30.3% | 39.3% |
| EBITDA margin % | -17.6% | -5.2% | 11.1% | -8.9% | -28% | -14.8% | -21.1% | -141.8% |
| EBIT margin % | -20.3% | -7.6% | 9.5% | -12.9% | -33.1% | -20.4% | -33% | -159% |
| PAT margin % | -18.7% | -1% | 28.5% | -10.7% | -33.5% | -203.5% | -29.4% | -79.5% |
| Working capital | ||||||||
| Receivable days | 65,612 | — | 31 | 58 | 66 | 13 | 28 | 12 |
| Inventory days | 50,984 | — | 94 | 195 | 184 | 156 | 243 | 419 |
| Payable days | 59,000 | — | 53 | 90 | 109 | 59 | 82 | 109 |
| NWC days | 57,596 | — | 72 | 163 | 141 | 110 | 189 | 323 |
| Leverage | ||||||||
| Current ratio | — | — | 2.36 | 2.17 | 1.24 | 1.13 | 0.94 | 76.11 |
| Debt to EBITDA | — | — | 0 | — | — | — | — | — |
| Debt to equity | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest coverage | -18.6 | -2.6 | 101.8 | -63 | -32 | -7.4 | -5.6 | -7.2 |
| Asset turnover | 0 | — | 0.9 | 0.41 | 0.36 | 1.07 | 0.59 | 0.03 |
| Return ratios | ||||||||
| Return on assets % | -0% | — | 25.6% | -4.4% | -11.9% | -217% | -17.4% | -2.1% |
| Return on capital employed % | — | — | 37.6% | -4% | -13.3% | -10.9% | -21.8% | -3.6% |
| Return on equity % | -0% | — | 31.5% | -5.1% | -15% | -388.1% | -31.1% | -2.1% |
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.