Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 21.6% | 10.3% | 10.5% | 9.8% | 11.7% | 3.9% |
| EBITDA margin % | 9% | 4.4% | 3.5% | 5% | 5.9% | -0.1% |
| EBIT margin % | 8.6% | 3.9% | 3% | 4.5% | 4.9% | -0.4% |
| PAT margin % | 4.7% | 1.8% | 0.5% | 1.5% | 2.2% | 1.7% |
| Working capital | ||||||
| Receivable days | 72 | 57 | 92 | 90 | 41 | 30 |
| Inventory days | 138 | 106 | 108 | 145 | 201 | 109 |
| Payable days | 56 | 38 | 41 | 69 | 43 | 16 |
| NWC days | 153 | 125 | 159 | 166 | 199 | 123 |
| Leverage | ||||||
| Current ratio | 1.63 | 1.63 | 1.53 | 1.35 | 2.09 | 2.84 |
| Debt to EBITDA | 2.57 | 4.91 | 6.8 | 9.59 | 4.08 | — |
| Debt to equity | 1.25 | 1.27 | 1.18 | 2.1 | 0.79 | 0.26 |
| Interest coverage | 4.1 | 2.3 | 1.4 | 1.8 | 2.3 | 3 |
| Asset turnover | 1.75 | 2.02 | 1.72 | 1.1 | 1.47 | 2.2 |
| Return ratios | ||||||
| Return on assets % | 8.2% | 3.5% | 0.9% | 1.7% | 3.2% | 3.7% |
| Return on capital employed % | 34.5% | 18.8% | 12.8% | 17.6% | 14.6% | 10.3% |
| Return on equity % | 25.3% | 10.4% | 2.7% | 6.6% | 7.1% | 5.5% |
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.