Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | 81.3% | 76.5% | 82.8% | 92.2% | — | 76.6% |
| EBITDA margin % | -9% | -15% | 2% | 1.1% | -8.2% | -8.4% | 3.6% | 1.5% |
| EBIT margin % | -15.6% | -22.6% | -4.5% | -5.1% | -15.1% | -15.2% | -1% | -2.7% |
| PAT margin % | -11.7% | -27.7% | -10.8% | -11.8% | -9.4% | -8.5% | 4.6% | -5.2% |
| Working capital | ||||||||
| Receivable days | — | — | 6 | 5 | 6 | 3 | — | — |
| Inventory days | — | — | 440 | 234 | 345 | 1,019 | — | — |
| Payable days | — | — | 74 | 46 | 73 | 119 | — | — |
| NWC days | — | — | 371 | 193 | 278 | 903 | — | — |
| Leverage | ||||||||
| Current ratio | — | — | 0.32 | 0.35 | 0.78 | 0.84 | — | — |
| Debt to EBITDA | — | — | 43.66 | 52.15 | — | — | — | — |
| Debt to equity | — | — | 0.76 | 0.52 | 0.36 | 0.41 | — | — |
| Interest coverage | -0.9 | -2.8 | -0.4 | -0.5 | -1.9 | -2 | 0.4 | -0.2 |
| Asset turnover | — | — | 0.43 | 0.5 | 0.47 | 0.46 | — | — |
| Return ratios | ||||||||
| Return on assets % | — | — | -4.6% | -5.9% | -4.4% | -3.9% | — | — |
| Return on capital employed % | — | — | -2.6% | -3% | -8.2% | -6.1% | — | — |
| Return on equity % | — | — | -9.4% | -10.6% | -7.1% | -6.5% | — | — |
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.