Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 13.7% | 21.9% | 80.3% | 51.2% | 50.8% | 22% |
| EBITDA margin % | 3.7% | 8.3% | 21.5% | 17% | 10.5% | 3.6% |
| EBIT margin % | 2.8% | 7.4% | 17% | 14.6% | 8.3% | 2.6% |
| PAT margin % | 3.3% | 5.3% | 6.7% | 8.1% | 3.4% | 0.7% |
| Working capital | ||||||
| Receivable days | 7 | 2 | 51 | 0 | 11 | 5 |
| Inventory days | 85 | 124 | 2,381 | 644 | 655 | 191 |
| Payable days | 26 | 18 | 463 | 35 | 92 | 46 |
| NWC days | 67 | 108 | 1,970 | 609 | 574 | 150 |
| Leverage | ||||||
| Current ratio | 2.11 | 2.77 | 2.41 | 5.03 | 3.92 | 3.13 |
| Debt to EBITDA | 7.04 | 2.83 | 5.91 | 3.69 | 5.7 | 7.02 |
| Debt to equity | 0.66 | 0.46 | 0.5 | 0.44 | 0.4 | 0.37 |
| Interest coverage | 2.7 | 5.6 | 2 | 3.3 | 2 | 1.5 |
| Asset turnover | 1.31 | 1.19 | 0.23 | 0.42 | 0.42 | 0.89 |
| Return ratios | ||||||
| Return on assets % | 4.3% | 6.3% | 1.5% | 3.4% | 1.4% | 0.6% |
| Return on capital employed % | 12% | 14.9% | 6.6% | 8.2% | 4.5% | 3.1% |
| Return on equity % | 8.3% | 10.3% | 2.6% | 5.7% | 2.3% | 0.9% |
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.