Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 14.6% | 9.1% | 18.4% | 26.8% | 17.4% | 31.2% | — |
| EBITDA margin % | 2.5% | -22.2% | -26,372.7% | -9.2% | -15.5% | -28.4% | -30.6% | — |
| EBIT margin % | 1.6% | -24.7% | -29,709.1% | -13.4% | -17.6% | -32.3% | -37.2% | — |
| PAT margin % | -4.1% | -9.4% | -2,15,563.6% | -100.5% | 178.1% | 25.8% | -152.9% | — |
| Working capital | ||||||||
| Receivable days | 171 | 149 | 33 | 47 | 95 | 113 | 53 | — |
| Inventory days | 90 | 54 | 9,380 | 118 | 105 | 164 | 23 | — |
| Payable days | 0 | 1 | 1,31,144 | 797 | 523 | 780 | 1,185 | — |
| NWC days | 261 | 202 | -1,21,731 | -631 | -323 | -504 | -1,109 | — |
| Leverage | ||||||||
| Current ratio | 0.85 | 0.54 | 0.95 | 0.11 | 0.16 | 0.13 | 0.21 | 0.03 |
| Debt to EBITDA | 26.07 | — | — | — | — | — | — | — |
| Debt to equity | 10.35 | 11.49 | -8.37 | -8.13 | 3.86 | 3.11 | 4.18 | 0.83 |
| Interest coverage | 0.4 | -1 | 0.1 | 0.3 | 0.4 | 1.2 | 0.2 | 0.1 |
| Asset turnover | 0.9 | 0.55 | 0 | 0.03 | 0.15 | 0.08 | 0.04 | 0 |
| Return ratios | ||||||||
| Return on assets % | -3.7% | -5.2% | -7.3% | -2.6% | 27% | 2% | -6.4% | 71.7% |
| Return on capital employed % | 16.3% | -65.1% | 1.1% | 1.7% | 3.7% | 34.3% | 4.7% | 1% |
| Return on equity % | -66.8% | -161.5% | 218.3% | 55.2% | 172.8% | 10.5% | -53.9% | 150.9% |
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.