Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 29.8% | 40.7% | 5.1% | 12% | — | 3.4% |
| EBITDA margin % | -6.1% | -33.3% | 2.8% | 0.3% | 0.1% | -0.3% |
| EBIT margin % | -7% | -37% | 2.7% | -0.2% | 0% | -0.3% |
| PAT margin % | -0.9% | 0% | 2% | -39.1% | 1% | 3.9% |
| Working capital | ||||||
| Receivable days | 461 | 1,095 | 87 | 157 | 132 | 414 |
| Inventory days | 73 | 365 | 108 | 24 | 412 | 0 |
| Payable days | 0 | 0 | 222 | 124 | — | 446 |
| NWC days | 534 | 1,460 | -27 | 56 | — | -31 |
| Leverage | ||||||
| Current ratio | 18.89 | 62.33 | 1.42 | 1.7 | 1.07 | 1.02 |
| Debt to EBITDA | — | — | 0.74 | 3 | — | — |
| Debt to equity | 0.02 | 0.01 | 0.02 | 0.01 | — | 0.18 |
| Interest coverage | — | — | — | — | — | — |
| Asset turnover | 0.36 | 0.09 | 0.63 | 0.5 | 0.52 | 0.55 |
| Return ratios | ||||||
| Return on assets % | -0.3% | 0% | 1.2% | -19.6% | 0.5% | 2.1% |
| Return on capital employed % | -0.6% | 0% | 4.6% | 0.9% | 5.4% | 16.7% |
| Return on equity % | -0.3% | 0% | 2% | -27.8% | 4.3% | 7.6% |
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.