Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 90.7% | 91.7% | 91% | 90.1% | 90.7% | 90.4% |
| EBITDA margin % | -14% | 19.6% | 23.5% | 25.6% | 22.7% | 11.8% |
| EBIT margin % | -84.2% | -5.2% | 8.6% | 11.7% | 13.2% | 0.9% |
| PAT margin % | -131.9% | -23.8% | -6.3% | 7.6% | -1.2% | 0.3% |
| Working capital | ||||||
| Receivable days | 34 | 16 | 19 | 16 | 11 | 11 |
| Inventory days | 1,125 | 495 | 339 | 289 | 226 | 315 |
| Payable days | 592 | 343 | 206 | 189 | 170 | 153 |
| NWC days | 567 | 168 | 152 | 116 | 68 | 173 |
| Leverage | ||||||
| Current ratio | 0.24 | 0.24 | 0.44 | 0.35 | 0.41 | 0.35 |
| Debt to EBITDA | — | 20.27 | 10.03 | 7.72 | 7.75 | 15.9 |
| Debt to equity | -4.3 | -2.8 | -3.46 | -3.52 | -3.16 | 0.62 |
| Interest coverage | -1.6 | -0.1 | 0.9 | 1.6 | 1.4 | 1.4 |
| Asset turnover | 0.07 | 0.2 | 0.34 | 0.37 | 0.39 | 0.15 |
| Return ratios | ||||||
| Return on assets % | -9.7% | -4.8% | -2.1% | 2.8% | -0.5% | 0% |
| Return on capital employed % | -8.3% | -0.8% | 8.2% | 20.6% | 16.7% | 6% |
| Return on equity % | 62.4% | 16.8% | 9.2% | -13.5% | 2.2% | 0.1% |
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.