Standalone figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | — | — | — | — | — | — |
| EBITDA margin % | -39.4% | -45.7% | -157.6% | 44.5% | -47.8% | 14.9% |
| EBIT margin % | -45.1% | -48.7% | -160.6% | 38.1% | -77.6% | 4.5% |
| PAT margin % | -42.1% | -104.1% | 40.7% | 59.2% | -9.4% | -3.1% |
| Working capital | ||||||
| Receivable days | 290 | 238 | 180 | 131 | 91 | 52 |
| Inventory days | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 101 | 335 | 15 | 53 | 29 | 96 |
| NWC days | 190 | -97 | 164 | 78 | 63 | -44 |
| Leverage | ||||||
| Current ratio | 1.32 | 1.4 | 23.18 | 1.53 | 0.19 | 0.78 |
| Debt to EBITDA | — | — | — | 3.41 | — | 78.9 |
| Debt to equity | 0.87 | 1.64 | 0.14 | 0.1 | 0.14 | 0.29 |
| Interest coverage | — | -0.6 | 3.1 | 2.5 | 0.8 | 1.4 |
| Asset turnover | 0.21 | 0.03 | 0.03 | 0.05 | 0.04 | 0.02 |
| Return ratios | ||||||
| Return on assets % | -8.8% | -3.6% | 1.3% | 2.7% | -0.3% | -0.1% |
| Return on capital employed % | -18% | -3.5% | 2.7% | 5.2% | 2.9% | 4.3% |
| Return on equity % | -17.9% | -10.4% | 1.6% | 3.8% | -0.5% | -0.1% |
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.