Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | — | — | — | — | — | 33% |
| EBITDA margin % | 15.3% | 13.2% | 13.9% | 7.8% | 9% | 5.2% |
| EBIT margin % | 7.4% | 8.1% | 10% | 2.8% | 3.2% | -0.2% |
| PAT margin % | 2.6% | 3.9% | 5.5% | -0.6% | 0.4% | -1.5% |
| Working capital | ||||||
| Receivable days | — | — | — | — | — | 108 |
| Inventory days | — | — | — | — | — | 186 |
| Payable days | — | — | — | — | — | 174 |
| NWC days | — | — | — | — | — | 120 |
| Leverage | ||||||
| Current ratio | 1.22 | 4.67 | 2.51 | 1.45 | 1.48 | 1.36 |
| Debt to EBITDA | 2.93 | 3.12 | 2.12 | 4.55 | 3.12 | 5.06 |
| Debt to equity | 0.4 | 0.62 | 0.65 | 0.63 | 0.49 | 0.49 |
| Interest coverage | 1.7 | 2.4 | 3.8 | 0.8 | 1.1 | 0.3 |
| Asset turnover | 0.48 | 0.71 | 0.98 | 0.86 | 0.86 | 0.86 |
| Return ratios | ||||||
| Return on assets % | 1.3% | 2.8% | 5.4% | -0.5% | 0.3% | -1.3% |
| Return on capital employed % | 6.5% | 8.8% | 13.6% | 4% | 5.9% | 1.6% |
| Return on equity % | 2.4% | 5.9% | 12.2% | -1.1% | 0.6% | -2.8% |
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.