Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 92.9% | — | 53.5% | 56% | 62.5% |
| EBITDA margin % | |||||
| — |
| — |
| 3.4% |
| 3.5% |
| 4.3% |
| EBIT margin % | — | — | 2.6% | 2.2% | 2.8% |
| PAT margin % | -1.4% | 1.8% | 3.9% | 3.3% | 3.6% |
| Working capital | |||||
| Receivable days | 101 | 99 | 133 | 75 | 65 |
| Inventory days | 2,806 | — | 231 | 209 | 279 |
| Payable days | 1,273 | — | 212 | 111 | 139 |
| NWC days | 1,635 | — | 151 | 173 | 205 |
| Leverage | |||||
| Current ratio | 2.46 | 2.38 | 2.38 | 3.26 | 3.32 |
| Debt to EBITDA | — | — | 0.05 | 0.29 | 0.29 |
| Debt to equity | 0.11 | 0.07 | 0 | 0.02 | 0.02 |
| Interest coverage | 0.2 | 0.3 | 18.3 | 13.7 | 16.9 |
| Asset turnover | 0.76 | 0.93 | 1.08 | 1.18 | 1.09 |
| Return ratios | |||||
| Return on assets % | -1.1% | 1.7% | 4.2% | 3.9% | 3.9% |
| Return on capital employed % | 0.3% | 0.4% | 8.3% | 7.8% | 7% |
| Return on equity % | -2% | 3.1% | 7.6% | 6.1% | 5.9% |
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.