Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 20.4% | 20.8% | 22.4% | 16.4% | 22.5% | 20.7% |
| EBITDA margin % | 3.8% | 5.7% | 1% | -3.7% | -1.8% | -7.2% |
| EBIT margin % | 2.6% | 4.9% | -0.7% | -5.8% | -3.9% | -9.4% |
| PAT margin % | 1.2% | 3.4% | -1.1% | -4.9% | -3.7% | -7.9% |
| Working capital | ||||||
| Receivable days | 53 | 48 | 44 | 82 | 93 | 63 |
| Inventory days | 160 | 115 | 177 | 110 | 174 | 161 |
| Payable days | 188 | 161 | 176 | 177 | 274 | 259 |
| NWC days | 25 | 2 | 45 | 16 | -7 | -35 |
| Leverage | ||||||
| Current ratio | 1.19 | 1.2 | 1.16 | 1 | 0.96 | 0.82 |
| Debt to EBITDA | 1.54 | 0 | 6 | — | — | — |
| Debt to equity | 0.25 | 0 | 0.27 | 0.53 | 0.66 | 0.83 |
| Interest coverage | 1.7 | 10.9 | -0.2 | -4 | -2.1 | -7.7 |
| Asset turnover | 1.32 | 1.87 | 1.42 | 1.38 | 1.12 | 1.2 |
| Return ratios | ||||||
| Return on assets % | 1.6% | 6.4% | -1.5% | -6.7% | -4.1% | -9.4% |
| Return on capital employed % | 16.6% | 32.5% | -0.8% | -23.9% | -17.7% | -52% |
| Return on equity % | 5.1% | 21.1% | -4.7% | -28.7% | -24.2% | -69.1% |
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.