Standalone figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | 97.1% | 98.5% |
| EBITDA margin % | -15.7% | 8.8% | 18.4% | -32.1% | 19% | 32.8% | 17.2% | 31% |
| EBIT margin % | -23.2% | 1.4% | -8.6% | -89.6% | -18.2% | 20.7% | 17.2% | 31% |
| PAT margin % | 9.5% | -5.4% | -31.5% | -99.2% | 4.4% | 1.6% | 950.9% | 31.5% |
| Working capital | ||||||||
| Receivable days | 5 | 0 | — | 28 | 3 | 3 | 2 | 1 |
| Inventory days | — | — | — | 0 | 0 | — | — | — |
| Payable days | 14 | 22 | — | 124 | 69 | 0 | — | — |
| NWC days | — | — | — | -96 | -66 | — | — | — |
| Leverage | ||||||||
| Current ratio | — | 0.56 | — | 0.3 | 0.92 | 0.86 | — | — |
| Debt to EBITDA | — | 12.94 | — | — | 5.56 | 6.24 | 24.59 | 0.15 |
| Debt to equity | 0.58 | 0.81 | — | 0.9 | 0.58 | 3.01 | 0.39 | 0.01 |
| Interest coverage | 1.2 | 0.8 | 0.4 | -0.1 | 1 | 1 | 0.6 | 4.1 |
| Asset turnover | 0.22 | 0.27 | 0.43 | 0.06 | 0.11 | 0.14 | 0.05 | 0.15 |
| Return ratios | ||||||||
| Return on assets % | 2% | -1.5% | -13.6% | -6.4% | 0.5% | 0.2% | 47.2% | 4.8% |
| Return on capital employed % | — | 10% | — | -0.9% | 10.1% | 11.9% | — | — |
| Return on equity % | 6.4% | -3.9% | — | -37.5% | 2.4% | 2.4% | 87.3% | 6.2% |
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.