Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | — | — | — | — | — | 23% |
| EBITDA margin % | 4.1% | -1.9% | -0.9% | 6% | 9.1% | 6.6% |
| EBIT margin % | 0.2% | -5.4% | -4.2% | 5.2% | 8.6% | 6.2% |
| PAT margin % | -12.8% | -6.3% | 1.1% | 2.3% | 9% | 5.4% |
| Working capital | ||||||
| Receivable days | — | — | — | — | — | 32 |
| Inventory days | — | — | — | — | — | 20 |
| Payable days | — | — | — | — | — | 100 |
| NWC days | — | — | — | — | — | -48 |
| Leverage | ||||||
| Current ratio | 0.5 | 0.47 | 0.4 | 0.34 | 0.49 | 0.65 |
| Debt to EBITDA | 9.52 | — | — | 3.34 | 1.5 | 0.73 |
| Debt to equity | 0.88 | 0.88 | 0.55 | 0.58 | 0.39 | 0.16 |
| Interest coverage | 0.2 | -0.3 | 1.3 | 1.5 | 4.1 | 4.7 |
| Asset turnover | 0.58 | 0.68 | 0.83 | 0.84 | 1.1 | 1.44 |
| Return ratios | ||||||
| Return on assets % | -7.4% | -4.3% | 1% | 1.9% | 9.9% | 7.8% |
| Return on capital employed % | 1.3% | -2.4% | 11.2% | 15.5% | 28.3% | 20.2% |
| Return on equity % | -28.6% | -18.8% | 3.7% | 6.6% | 25.5% | 18% |
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.