Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 25.2% | 33.3% | 37.3% | 41.6% | 36.4% | 31.7% |
| EBITDA margin % | -23.5% | 11% | 10.6% | 14.1% | 4.8% | 7% |
| EBIT margin % | -25.7% | 9.9% | 8.5% | 11.8% | 2.2% | 3.9% |
| PAT margin % | -53.2% | 7.2% | 7.3% | 6.3% | -4.7% | 1.4% |
| Working capital | ||||||
| Receivable days | 83 | 84 | 67 | 87 | 164 | 155 |
| Inventory days | 25 | 14 | 44 | 159 | 182 | 147 |
| Payable days | 81 | 58 | 81 | 141 | 104 | 55 |
| NWC days | 26 | 39 | 30 | 105 | 243 | 247 |
| Leverage | ||||||
| Current ratio | 0.77 | 0.97 | 1.08 | 1.67 | 1.74 | 1.71 |
| Debt to EBITDA | — | 2.64 | 3.64 | 4.59 | 21.9 | 13.32 |
| Debt to equity | 0.79 | 0.74 | 1.14 | 1.6 | 1.89 | 1.76 |
| Interest coverage | -2.6 | 3.4 | 3.3 | 2.1 | 0.5 | 1 |
| Asset turnover | 0.53 | 1.2 | 1.04 | 0.71 | 0.49 | 0.54 |
| Return ratios | ||||||
| Return on assets % | -28% | 8.6% | 7.6% | 4.4% | -2.3% | 0.8% |
| Return on capital employed % | -18.2% | 21% | 31.7% | 18% | 3.8% | 6.1% |
| Return on equity % | -56.8% | 18.4% | 21.7% | 15.5% | -8.4% | 2.7% |
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.