Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | — | — | 44.2% | 47.4% | — |
| EBITDA margin % | 13% | 15.1% | 23.6% | 26.4% | 21.4% |
| EBIT margin % | 4.3% | 9.9% | 20.1% | 23% | 17.8% |
| PAT margin % | -6.7% | 3.3% | 10.6% | 15.5% | 11.7% |
| Working capital | |||||
| Receivable days | — | — | 30 | 46 | — |
| Inventory days | — | — | 122 | 110 | — |
| Payable days | — | — | 20 | 7 | — |
| NWC days | — | — | 132 | 150 | — |
| Leverage | |||||
| Current ratio | 1.83 | 1.96 | 3.81 | 7.55 | 4.57 |
| Debt to EBITDA | 8.44 | 4.32 | 1.31 | 0.81 | 0.99 |
| Debt to equity | 0.63 | 0.6 | 0.32 | 0.2 | 0.18 |
| Interest coverage | 0.3 | 1.8 | 5.4 | 9.7 | 8.3 |
| Asset turnover | 0.34 | 0.53 | 0.75 | 0.76 | 0.65 |
| Return ratios | |||||
| Return on assets % | -2.2% | 1.8% | 8% | 11.8% | 7.6% |
| Return on capital employed % | 1.7% | 6.3% | 17.3% | 19.4% | 13.6% |
| Return on equity % | -3.9% | 3% | 11.1% | 14.6% | 9.8% |
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.