Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 69.6% | 71.2% | 70% | 70.3% | 68.9% | 68.4% |
| EBITDA margin % | 16.4% | 22.7% | 21.9% | 18.2% | 16.4% | 15.1% |
| EBIT margin % | -3.8% | 12% | 12.6% | 7.4% | 4.9% | 3.5% |
| PAT margin % | -7.2% | 7.4% | 8.8% | -0.3% | -0.1% | -0.8% |
| Working capital | ||||||
| Receivable days | 5 | 4 | 4 | 5 | 3 | 4 |
| Inventory days | 66 | 52 | 52 | 45 | 35 | 34 |
| Payable days | 171 | 119 | 98 | 130 | 105 | 127 |
| NWC days | -100 | -64 | -42 | -79 | -66 | -89 |
| Leverage | ||||||
| Current ratio | 0.39 | 0.8 | 0.58 | 0.53 | 0.43 | 0.51 |
| Debt to EBITDA | 2.48 | 0.28 | 0.12 | 1.41 | 1.15 | 1.6 |
| Debt to equity | 4.07 | 0.19 | 0.08 | 0.86 | 0.85 | 0.88 |
| Interest coverage | 0.1 | 2.1 | 2.8 | 1.6 | 1 | 0.9 |
| Asset turnover | 0.68 | 0.92 | 1 | 0.72 | 0.93 | 0.83 |
| Return ratios | ||||||
| Return on assets % | -4.9% | 6.9% | 8.8% | -0.2% | -0.1% | -0.6% |
| Return on capital employed % | 1.7% | 17.3% | 19.1% | 9.1% | 6.7% | 5.2% |
| Return on equity % | -71.5% | 22.6% | 27.1% | -0.9% | -0.6% | -2.8% |
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.