Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 37.6% | 27.8% | 10.9% | 34.4% | 22.1% | 24.5% |
| EBITDA margin % | -0.6% | -13.5% | -41.7% | -19.2% | -23.3% | -11.1% |
| EBIT margin % | -1% | -14% | -43% | -20.9% | -25.5% | -12.8% |
| PAT margin % | -8.5% | -21.3% | -44.8% | -13.1% | -17.6% | -8.1% |
| Working capital | ||||||
| Receivable days | 87 | 158 | 136 | 103 | 54 | 54 |
| Inventory days | 614 | 456 | 259 | 343 | 464 | 477 |
| Payable days | 202 | 168 | 149 | 176 | 291 | 244 |
| NWC days | 499 | 445 | 246 | 270 | 227 | 287 |
| Leverage | ||||||
| Current ratio | 0.98 | 0.94 | 0.72 | 1.2 | 1.26 | 1.07 |
| Debt to EBITDA | — | — | — | — | — | — |
| Debt to equity | 1.01 | 1.72 | 4.52 | 0.08 | 0.01 | 0.19 |
| Interest coverage | 0.1 | -0.9 | -2.2 | -4.2 | -196.6 | -4.4 |
| Asset turnover | 0.33 | 0.32 | 0.36 | 0.4 | 0.37 | 0.39 |
| Return ratios | ||||||
| Return on assets % | -2.8% | -6.8% | -16.3% | -5.3% | -6.6% | -3.2% |
| Return on capital employed % | 1.2% | -9% | -32.5% | -10.8% | -14.5% | -7.3% |
| Return on equity % | -7.9% | -25.6% | -133.4% | -8.5% | -11.1% | -6% |
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.