Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 50.6% | 55.7% | 51.1% | 56.6% | 61.2% | 55.3% |
| EBITDA margin % | 3% | 4.8% | 5.6% | 8.4% | 6.1% | 1.7% |
| EBIT margin % | 0.5% | 3% | 4.6% | 7.6% | 4.4% | -0% |
| PAT margin % | -0.5% | -0.1% | 7.3% | 5.8% | 8.7% | 39.9% |
| Working capital | ||||||
| Receivable days | 94 | 114 | 103 | 114 | 159 | 175 |
| Inventory days | 75 | 39 | 30 | 0 | 40 | 28 |
| Payable days | 117 | 146 | 74 | 53 | 106 | 113 |
| NWC days | 53 | 6 | 59 | 62 | 94 | 90 |
| Leverage | ||||||
| Current ratio | 1.59 | 1.52 | 2.08 | 2.1 | 1.91 | 1.79 |
| Debt to EBITDA | 4.07 | 1.95 | 1.04 | 0.93 | 1.75 | 9.02 |
| Debt to equity | 0.32 | 0.29 | 0.17 | 0.23 | 0.27 | 0.27 |
| Interest coverage | 1 | 4.4 | 9.1 | 9.8 | 8 | 1.4 |
| Asset turnover | 1.36 | 1.5 | 1.83 | 1.71 | 1.4 | 1 |
| Return ratios | ||||||
| Return on assets % | -0.6% | -0.1% | 13.3% | 9.9% | 12.1% | 40% |
| Return on capital employed % | 3.9% | 11.9% | 31.8% | 25.3% | 29.1% | 3.8% |
| Return on equity % | -1.2% | -0.2% | 21.7% | 17.1% | 21.5% | 69.1% |
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.