Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 34.3% | 29.1% | 24.9% | 32.9% | 32.3% |
| EBITDA margin % | 8.2% | 7.2% | 5.8% | 5.2% | 5.7% |
| EBIT margin % | 0.9% | 2.5% | 1.9% | -0.8% | -0.2% |
| PAT margin % | -1.8% | -0.5% | 5.1% | -7.8% | -7.1% |
| Working capital | |||||
| Receivable days | 90 | 95 | 70 | 73 | 55 |
| Inventory days | 90 | 83 | 42 | 77 | 80 |
| Payable days | 93 | 102 | 77 | 70 | 57 |
| NWC days | 88 | 76 | 34 | 80 | 78 |
| Leverage | |||||
| Current ratio | 1.08 | 1.04 | 1.01 | 0.99 | 0.82 |
| Debt to EBITDA | 13.3 | 11.42 | 11.22 | 19.28 | 14.99 |
| Debt to equity | 7.85 | 9.18 | 1.2 | 1.52 | 1.43 |
| Interest coverage | 0.3 | 0.5 | 0.5 | 0.2 | 0.2 |
| Asset turnover | 0.59 | 0.75 | 0.62 | 0.48 | 0.56 |
| Return ratios | |||||
| Return on assets % | -1% | -0.4% | 3.2% | -3.7% | -4% |
| Return on capital employed % | 3.2% | 4.8% | 2.9% | 1.4% | 1.5% |
| Return on equity % | -12.9% | -5.8% | 9.5% | -11.8% | -12% |
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.