Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 62.8% | 51.5% | 47.2% | 24.1% |
| EBITDA margin % | 8% | 9.5% | 13.1% | 7.7% |
| EBIT margin % | 4.2% | 5.2% | 10.2% | 5.9% |
| PAT margin % | 0.2% | 1.2% | 5.3% | 1.8% |
| Working capital | ||||
| Receivable days | 55 | — | 186 | 128 |
| Inventory days | 494 | 470 | 414 | 299 |
| Payable days | 63 | — | 104 | 84 |
| NWC days | 486 | — | 496 | 342 |
| Leverage | ||||
| Current ratio | 3.07 | 2.36 | 2.62 | 2.19 |
| Debt to EBITDA | 2.53 | — | 2.27 | 3.68 |
| Debt to equity | 0.34 | — | 0.4 | 0.48 |
| Interest coverage | 1.1 | 1.2 | 2.7 | 1.7 |
| Asset turnover | 1.01 | 0.65 | 0.75 | 0.88 |
| Return ratios | ||||
| Return on assets % | 0.2% | 0.8% | 4% | 1.5% |
| Return on capital employed % | 7.7% | 7.7% | 15.6% | 10.3% |
| Return on equity % | 0.4% | — | 7.1% | 3% |
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.