Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 8.1% | 9% | 9.5% | 10.3% |
| EBITDA margin % | 1.9% | 2.9% | ||
| 3.4% |
| 4% |
| EBIT margin % | 1.2% | 2.2% | 2.8% | 3.4% |
| PAT margin % | -0.3% | 1% | 2.1% | 2.2% |
| Working capital | ||||
| Receivable days | 57 | 57 | 59 | 67 |
| Inventory days | 41 | 43 | 52 | 52 |
| Payable days | 25 | 24 | 31 | 45 |
| NWC days | 73 | 77 | 80 | 74 |
| Leverage | ||||
| Current ratio | 1.64 | 3.34 | 2.46 | 1.58 |
| Debt to EBITDA | 5.84 | 2.46 | 1.74 | 2.13 |
| Debt to equity | 0.63 | 0.17 | 0.17 | 0.34 |
| Interest coverage | 0.9 | 1.5 | 4.3 | 4.4 |
| Asset turnover | 2.52 | 1.67 | 1.89 | 1.83 |
| Return ratios | ||||
| Return on assets % | -0.8% | 1.7% | 4% | 4.1% |
| Return on capital employed % | 6.6% | 8.3% | 10% | 12.5% |
| Return on equity % | -1.9% | 2.4% | 6.2% | 8.6% |
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.