Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 7.5% | — | — | ||||
| 8.9% |
| -348.7% |
| -419.1% |
| 15.7% |
| EBITDA margin % | -48.2% | -40.7% | -136.9% | -53.8% | -61.8% | -366.9% | -467.1% | 3.7% |
| EBIT margin % | -49.1% | -40.9% | -140% | -58.9% | -66.4% | -368.5% | -469.9% | 2.8% |
| PAT margin % | -131.4% | -104% | -2,297.8% | -1,885.2% | -4,489.8% | -1,582.7% | -1,897.6% | -525% |
| Working capital | ||||||||
| Receivable days | 633 | 140 | 2,035 | 3,568 | 3,213 | 1,029 | 1,220 | 396 |
| Inventory days | 323 | 216 | 1,120 | 2,952 | 4,668 | 314 | 451 | 794 |
| Payable days | 344 | 275 | 1,445 | 3,790 | 6,100 | 412 | 610 | 1,112 |
| NWC days | 613 | 81 | 1,709 | 2,731 | 1,781 | 931 | 1,061 | 78 |
| Leverage | ||||||||
| Current ratio | 1.51 | 1.38 | 1.17 | 1.09 | 0.93 | 0.8 | 0.75 | 0.68 |
| Debt to EBITDA | — | — | — | — | — | — | — | 407.18 |
| Debt to equity | 0.37 | 0.38 | 1.3 | 1.75 | 10.04 | -2.5 | -1.32 | -0.9 |
| Interest coverage | -0.5 | -0.8 | -0.1 | -0 | 0 | -0.3 | -0.3 | 0 |
| Asset turnover | 0.03 | 0.06 | 0.01 | 0 | 0 | 0.01 | 0.01 | 0.02 |
| Return ratios | ||||||||
| Return on assets % | -3.4% | -6.8% | -11.8% | -5.6% | -14.2% | -15.3% | -11% | -10.9% |
| Return on capital employed % | -2.6% | -5.6% | -2.2% | -0.5% | 2.5% | 74.4% | 12.2% | -0.9% |
| Return on equity % | -9.5% | -20.4% | -51.2% | -32.5% | -474.7% | 124.7% | 47.4% | 31.4% |
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.