Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 8.1% | 6.8% | 6.4% | 4.1% | 4.6% |
| EBITDA margin % | 1.6% | 4.2% | -4.4% | -0.3% | 1.9% |
| EBIT margin % | 1.4% | 4.1% | -4.8% | -0.8% | 1.2% |
| PAT margin % | 3.1% | 3.5% | 4.2% | 0.2% | 0.9% |
| Working capital | |||||
| Receivable days | 33 | 156 | 191 | 214 | 162 |
| Inventory days | 32 | 45 | 57 | 16 | 112 |
| Payable days | 26 | 87 | 6 | 75 | 90 |
| NWC days | 40 | 114 | 243 | 155 | 183 |
| Leverage | |||||
| Current ratio | 1.41 | 1.62 | 1.94 | 1.67 | 1.92 |
| Debt to EBITDA | 16.82 | 10.24 | — | — | 16.98 |
| Debt to equity | 0.75 | 0.6 | 0.4 | 0.38 | 0.24 |
| Interest coverage | 2.2 | 1.9 | 1.5 | 1.1 | 1.3 |
| Asset turnover | 1.44 | 0.7 | 0.37 | 0.45 | 0.53 |
| Return ratios | |||||
| Return on assets % | 4.5% | 2.5% | 1.6% | 0.1% | 0.5% |
| Return on capital employed % | 15.7% | 11.3% | 6.4% | 3.5% | 4.1% |
| Return on equity % | 8.9% | 4.9% | 2.4% | 0.2% | 0.7% |
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.