Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 86.9% | 67.5% | 70.5% | 75.4% |
| EBITDA margin % | 14.1% | 7.3% | ||
| -5.3% |
| 9.1% |
| EBIT margin % | 10.6% | 2.9% | -10% | 4.2% |
| PAT margin % | 6% | -1.3% | -16.5% | 0.7% |
| Working capital | ||||
| Receivable days | 101 | 168 | 187 | 186 |
| Inventory days | 575 | 186 | 133 | 159 |
| Payable days | 208 | 88 | 125 | 208 |
| NWC days | 468 | 265 | 196 | 138 |
| Leverage | ||||
| Current ratio | 2.24 | 1.95 | 1.41 | 1.58 |
| Debt to EBITDA | 2.53 | 6.83 | — | 7.57 |
| Debt to equity | 0.37 | 0.62 | 1.09 | 0.99 |
| Interest coverage | 3.3 | 0.8 | -1.4 | 1 |
| Asset turnover | 0.65 | 0.65 | 0.66 | 0.57 |
| Return ratios | ||||
| Return on assets % | 3.9% | -0.9% | -10.8% | 0.4% |
| Return on capital employed % | 11.1% | 3.9% | -10.5% | 7.2% |
| Return on equity % | 6.3% | -1.7% | -28.3% | 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.