Consolidated figures
| Ratio | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 84.5% | 84.9% | 86.6% | 81.9% | 85% |
| EBITDA margin % | 18% | 3.2% | 4.6% | -4.6% | 7.4% |
| EBIT margin % | 10.7% | -4.9% | -3.1% | -15.2% | -0.2% |
| PAT margin % | 5.2% | -8.8% | -6.3% | -18.9% | -5.8% |
| Working capital | |||||
| Receivable days | 28 | 23 | 24 | 21 | 11 |
| Inventory days | 145 | 249 | 249 | 229 | 248 |
| Payable days | 177 | 213 | 257 | 320 | 262 |
| NWC days | -4 | 59 | 16 | -69 | -3 |
| Leverage | |||||
| Current ratio | 0.53 | 0.65 | 0.69 | 0.49 | 0.93 |
| Debt to EBITDA | 3.48 | 20.35 | 14.8 | — | 8.28 |
| Debt to equity | 1.57 | 1.31 | 1.45 | 2.17 | 0.75 |
| Interest coverage | 3 | -0.9 | -0.6 | -1.9 | 0 |
| Asset turnover | 0.72 | 0.64 | 0.62 | 0.46 | 0.5 |
| Return ratios | |||||
| Return on assets % | 3.8% | -5.6% | -3.9% | -8.6% | -2.9% |
| Return on capital employed % | 10.9% | -3.6% | -2.2% | -8.4% | 0.1% |
| Return on equity % | 13.2% | -17.5% | -13.4% | -38% | -7.1% |
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.