Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 30.2% | 32.2% | 27.7% | 83.6% | 50% | 62.9% | 85.6% | 62.6% |
| EBITDA margin % | -22.6% | 2.5% | -3.5% | 72.2% | 10% | 20.6% | 37.1% | 25.2% |
| EBIT margin % | -26% | -0.4% | -7.7% | 70.1% | 2.2% | 13.7% | 30.7% | 19.2% |
| PAT margin % | -36.6% | -12.7% | -23.6% | 64.2% | -11.2% | 10.3% | 12.3% | 77.4% |
| Working capital | ||||||||
| Receivable days | — | — | 153 | 47 | 165 | 128 | 116 | 158 |
| Inventory days | — | — | 206 | 164 | 114 | 164 | 832 | 319 |
| Payable days | — | — | 60 | 47 | 31 | 61 | 44 | 28 |
| NWC days | — | — | 300 | 164 | 248 | 230 | 905 | 450 |
| Leverage | ||||||||
| Current ratio | — | — | 0.79 | 0.54 | 2.34 | 4.28 | 1.62 | 1.71 |
| Debt to EBITDA | — | — | — | 0.81 | 24.2 | 16.12 | 7.08 | 9.18 |
| Debt to equity | — | — | -6.67 | 1.03 | 1.22 | 1.68 | 1.69 | 1.07 |
| Interest coverage | -2.7 | 0 | -0.3 | 14.3 | 0.3 | 1.4 | 1.7 | 5.7 |
| Asset turnover | — | — | 0.48 | 0.75 | 0.2 | 0.17 | 0.2 | 0.21 |
| Return ratios | ||||||||
| Return on assets % | — | — | -11.4% | 48.2% | -2.3% | 1.8% | 2.5% | 15.9% |
| Return on capital employed % | — | — | -7.7% | 136.8% | 1.6% | 7.2% | 9.5% | 28.3% |
| Return on equity % | — | — | 82.4% | 113.1% | -5.7% | 5.2% | 7.9% | 35.8% |
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.