Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 14.3% | 19.2% | 19.8% | 14.4% |
| EBITDA margin % | 6.1% | 8.3% | 7.6% | 4.6% |
| EBIT margin % | 3% | 6.1% | 6% | 3.1% |
| PAT margin % | 1.4% | 2.8% | 2.7% | 0.5% |
| Working capital | ||||
| Receivable days | — | 156 | 185 | 182 |
| Inventory days | — | 86 | 105 | 88 |
| Payable days | — | 55 | 54 | 110 |
| NWC days | — | 187 | 236 | 159 |
| Leverage | ||||
| Current ratio | — | 2.13 | 2.2 | 1.66 |
| Debt to EBITDA | — | 4.35 | 6.08 | 8.26 |
| Debt to equity | — | 0.99 | 1.36 | 0.89 |
| Interest coverage | 1.7 | 2.3 | 2.3 | 1.3 |
| Asset turnover | — | 1.06 | 0.95 | 0.83 |
| Return ratios | ||||
| Return on assets % | — | 3% | 2.5% | 0.4% |
| Return on capital employed % | — | 10.6% | 10.3% | 5.9% |
| Return on equity % | — | 7.7% | 7.8% | 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.