Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 79.3% | — | — | 96.4% |
| EBITDA margin % | 22.6% | 33.4% | 22.1% | 8.2% |
| EBIT margin % | -3.1% | 9.8% | -0.5% | 7.6% |
| PAT margin % | -8% | 12.3% | 9.3% | 36.8% |
| Working capital | ||||
| Receivable days | 133 | 213 | 279 | 216 |
| Inventory days | 215 | 172 | 193 | 3,622 |
| Payable days | 763 | 137 | 110 | 3,433 |
| NWC days | -415 | 249 | 362 | 405 |
| Leverage | ||||
| Current ratio | 0.8 | 2.96 | 3.37 | 2.87 |
| Debt to EBITDA | 10.35 | 2.32 | 3.48 | 3.82 |
| Debt to equity | 0.53 | 0.13 | 0.09 | 0.05 |
| Interest coverage | 0.5 | 2.3 | 2.9 | 19 |
| Asset turnover | 0.12 | 0.11 | 0.09 | 0.13 |
| Return ratios | ||||
| Return on assets % | -0.9% | 1.3% | 0.9% | 4.9% |
| Return on capital employed % | 2% | 3.4% | 2.7% | 8.5% |
| Return on equity % | -1.8% | 2.1% | 1.1% | 6.1% |
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.