Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 18.8% | 20.7% | 40% | 45% |
| EBITDA margin % | 9.1% | 12.7% | ||
| 30.9% |
| 34.3% |
| EBIT margin % | 2.2% | 8.3% | 24.2% | 28.5% |
| PAT margin % | 1.5% | 0% | 0% | 21.4% |
| Working capital | ||||
| Receivable days | 41 | 37 | 30 | 50 |
| Inventory days | 103 | 148 | 197 | 225 |
| Payable days | — | — | — | 116 |
| NWC days | — | — | — | 159 |
| Leverage | ||||
| Current ratio | 1.04 | 1.41 | 1.25 | 2.06 |
| Debt to EBITDA | 9.23 | 11.97 | 2.7 | 0.1 |
| Debt to equity | 3.7 | 8.54 | 3.63 | 0.05 |
| Interest coverage | 1.4 | 2.4 | 5.5 | 9.6 |
| Asset turnover | 0.74 | 0.43 | 0.6 | 0.87 |
| Return ratios | ||||
| Return on assets % | 1.1% | 0% | 0% | 18.7% |
| Return on capital employed % | 7.4% | 8% | 29.2% | 43.6% |
| Return on equity % | 6.4% | 0% | 0% | 29.3% |
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.