Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 29.3% | 23.9% | 20.3% | 16.7% | 16.7% | 32.9% | 0% | 47.7% |
| EBIT margin % | 22.7% | 19.7% | 18.6% | 16.7% | 16.7% | 32.9% | 0% | 47.7% |
| PAT margin % | -14.7% | 7% | 3.4% | 6.4% | 7.6% | 13.7% | 32.7% | 43.2% |
| Working capital | ||||||||
| Receivable days | — | — | 99 | 56 | 0 | 5 | — | 0 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | 225 | 140 | 0 | 15 | — | 0 |
| NWC days | — | — | -126 | -84 | 0 | -10 | — | 0 |
| Leverage | ||||||||
| Current ratio | — | — | 0.29 | 0.28 | 0.04 | 0.17 | 0.09 | 0.1 |
| Debt to EBITDA | — | — | 22.58 | 20.85 | 23.36 | 7.08 | — | 0.55 |
| Debt to equity | — | — | 0.2 | 0.2 | 0.19 | 0.12 | — | 0.13 |
| Interest coverage | 1.3 | 1.4 | 1.1 | 1.3 | 1.4 | 2.6 | 2.4 | 9 |
| Asset turnover | — | — | 0.03 | 0.04 | 0.04 | 0.04 | 0.03 | 0.24 |
| Return ratios | ||||||||
| Return on assets % | — | — | 0.1% | 0.3% | 0.3% | 0.6% | 1% | 10.2% |
| Return on capital employed % | — | — | 1.3% | 1.4% | 1.5% | 2.8% | 2% | 5.8% |
| Return on equity % | — | — | 0.1% | 0.4% | 0.4% | 0.7% | — | 22.2% |
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.