Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 38.4% | 31.1% | 19.9% | 28.8% | 34.5% | 40.5% |
| EBITDA margin % | 0.7% | -15.8% | -41.8% | 4% | 6% | 8.3% |
| EBIT margin % | -8.6% | -23.8% | -52.9% | 1.8% | 4% | 6.4% |
| PAT margin % | -25.1% | -21.2% | -50.3% | -24.6% | -12.1% | 28.7% |
| Working capital | ||||||
| Receivable days | 65 | 71 | 74 | 75 | 88 | 69 |
| Inventory days | 181 | 160 | 82 | 62 | 62 | 79 |
| Payable days | 237 | 163 | 169 | 100 | 92 | 82 |
| NWC days | 8 | 68 | -13 | 37 | 59 | 66 |
| Leverage | ||||||
| Current ratio | 0.75 | 1.25 | 0.84 | 1.35 | 1.48 | 1.72 |
| Debt to EBITDA | 54 | — | — | 1.57 | 1.23 | 1.03 |
| Debt to equity | 0.36 | 0.28 | 0.08 | 0.08 | 0.06 | 0.06 |
| Interest coverage | -1.9 | -6.7 | -15.3 | 2.9 | 4.1 | 7.9 |
| Asset turnover | 0.48 | 0.46 | 0.58 | 0.88 | 0.67 | 0.58 |
| Return ratios | ||||||
| Return on assets % | -12% | -9.9% | -29% | -21.7% | -8.1% | 16.6% |
| Return on capital employed % | -6% | -16.9% | -29.7% | 3.3% | 5% | 5.9% |
| Return on equity % | -24.5% | -22.1% | -43% | -29.9% | -10.2% | 20% |
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.