Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 49.2% | 59.6% | 59.2% | 61.6% |
| EBITDA margin % | -13.8% | 4.5% | 9.7% | 8.9% |
| EBIT margin % | -18.5% | 0.7% | 7.1% | 6.3% |
| PAT margin % | -21.5% | 1% | 2% | 2.3% |
| Working capital | ||||
| Receivable days | 37 | 24 | 31 | 28 |
| Inventory days | 274 | 280 | 212 | 247 |
| Payable days | 191 | 222 | 170 | 148 |
| NWC days | 120 | 83 | 73 | 126 |
| Leverage | ||||
| Current ratio | 0.79 | 0.73 | 0.86 | 1.02 |
| Debt to EBITDA | — | 8.31 | 2.89 | 3.02 |
| Debt to equity | 3.11 | 2.53 | 2.21 | 1.82 |
| Interest coverage | -2.5 | 0.4 | 1.6 | 1.7 |
| Asset turnover | 0.91 | 1.06 | 1.38 | 1.41 |
| Return ratios | ||||
| Return on assets % | -19.6% | 1% | 2.8% | 3.2% |
| Return on capital employed % | -45.2% | 8.7% | 35.3% | 31.1% |
| Return on equity % | -139.2% | 6.6% | 15.8% | 15.4% |
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.