Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 68.1% | 45.7% | 53.8% | 34.3% | -51.9% | 50.8% | 43.7% | -26.9% |
| EBITDA margin % | 26.7% | 11.7% | 10.4% | -4.2% | -106.4% | -24.6% | -13.5% | -267.4% |
| EBIT margin % | 19.5% | 5.7% | 2.9% | -12.2% | -166.9% | -38% | -31.4% | -300% |
| PAT margin % | 2.5% | -6.9% | -13.9% | -31% | -185.5% | -32.4% | -29.9% | -306% |
| Working capital | ||||||||
| Receivable days | — | 118 | 133 | 106 | 109 | 159 | 161 | 284 |
| Inventory days | — | 640 | 954 | 609 | 106 | 340 | 354 | 56 |
| Payable days | — | 75 | 124 | 95 | 96 | 211 | 211 | 266 |
| NWC days | — | 683 | 964 | 619 | 120 | 289 | 304 | 73 |
| Leverage | ||||||||
| Current ratio | — | 1.84 | 1.39 | 1.21 | 0.64 | 0.7 | 0.63 | 0.34 |
| Debt to EBITDA | — | 7.92 | 14.83 | — | — | — | — | — |
| Debt to equity | — | 0.46 | 0.62 | 0.78 | 2.83 | 4.2 | 8.29 | -3.46 |
| Interest coverage | 1.1 | 0.5 | 0.3 | -0.6 | -8.4 | -22.4 | -11.2 | -43.2 |
| Asset turnover | — | 0.26 | 0.19 | 0.2 | 0.22 | 0.2 | 0.16 | 0.11 |
| Return ratios | ||||||||
| Return on assets % | — | -1.8% | -2.7% | -6.3% | -41.4% | -6.5% | -4.8% | -34% |
| Return on capital employed % | — | 2.9% | 1.6% | -3.5% | -54.5% | -12.7% | -10.6% | -102.3% |
| Return on equity % | — | -3.5% | -5.6% | -14.8% | -246% | -49.6% | -52.9% | 152.1% |
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.