Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 26.9% | 28.6% | 32.9% | 33.7% |
| EBITDA margin % | 7.4% | 11% | -4.3% | -9% |
| EBIT margin % | 5.1% | 9.2% | -10.7% | -19.1% |
| PAT margin % | 1.1% | 6.3% | -12.7% | -23.8% |
| Working capital | ||||
| Receivable days | 162 | 79 | 140 | 130 |
| Inventory days | 90 | 98 | 177 | 193 |
| Payable days | 199 | 101 | 133 | 171 |
| NWC days | 54 | 76 | 184 | 152 |
| Leverage | ||||
| Current ratio | 1.54 | 3.32 | 1.74 | 1.21 |
| Debt to EBITDA | 2.25 | 0.27 | — | — |
| Debt to equity | 0.51 | 0.04 | 0.74 | 0.68 |
| Interest coverage | 2.7 | 5.8 | -1.4 | -3.5 |
| Asset turnover | 1 | 1.01 | 0.52 | 0.58 |
| Return ratios | ||||
| Return on assets % | 1.1% | 6.3% | -6.6% | -13.8% |
| Return on capital employed % | 15.3% | 20.7% | -6.7% | -17.9% |
| Return on equity % | 3.5% | 8.9% | -17.9% | -42.1% |
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.