Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 44.3% | 49% | 54% | 61.6% | 71.8% | 29.7% |
| EBITDA margin % | 6.5% | 3.8% | 2.4% | -0.9% | -0.2% | 0.9% |
| EBIT margin % | 2.7% | -0.1% | -1.5% | -4.3% | -3.4% | -1.8% |
| PAT margin % | 1.7% | 0.6% | -4% | 29.9% | -1.6% | 0.7% |
| Working capital | ||||||
| Receivable days | 100 | 93 | 71 | 57 | 47 | 39 |
| Inventory days | 308 | 277 | 291 | 313 | 333 | 90 |
| Payable days | 66 | 74 | 63 | 39 | 176 | 56 |
| NWC days | 342 | 295 | 299 | 331 | 203 | 72 |
| Leverage | ||||||
| Current ratio | 1.92 | 2.13 | 3.63 | 3.41 | 1.9 | 2.01 |
| Debt to EBITDA | 4.45 | 5.45 | 0.41 | — | — | 0 |
| Debt to equity | 0.35 | 0.24 | 0.01 | 0 | 0 | 0 |
| Interest coverage | 1.5 | 1.3 | 0.5 | 18.5 | -2.8 | — |
| Asset turnover | 0.73 | 0.74 | 0.98 | 0.69 | 0.62 | 0.76 |
| Return ratios | ||||||
| Return on assets % | 1.2% | 0.4% | -3.9% | 20.5% | -1% | 0.5% |
| Return on capital employed % | 4.5% | 3.6% | 1% | -1.8% | -0.5% | 1.1% |
| Return on equity % | 2% | 0.7% | -5% | 25.6% | -1.4% | 0.7% |
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.