Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 21.9% | 8.1% | 15.5% | 16.5% |
| EBITDA margin % | 10.6% | -0.8% | 4.6% | 2.7% |
| EBIT margin % | 10.2% | -1% | 4.4% | 2.5% |
| PAT margin % | 9.3% | 7% | 2.9% | 0.3% |
| Working capital | ||||
| Receivable days | 131 | 194 | 165 | 258 |
| Inventory days | 199 | 148 | 146 | 170 |
| Payable days | 55 | 21 | 66 | 76 |
| NWC days | 276 | 320 | 246 | 353 |
| Leverage | ||||
| Current ratio | 3.91 | 4.31 | 3.29 | 3.58 |
| Debt to EBITDA | 1.15 | — | 3.28 | 6.39 |
| Debt to equity | 0.14 | 0.19 | 0.17 | 0.16 |
| Interest coverage | 7.4 | 6.1 | 3.1 | 3.2 |
| Asset turnover | 0.86 | 0.75 | 0.83 | 0.69 |
| Return ratios | ||||
| Return on assets % | 8.1% | 5.3% | 2.4% | 0.2% |
| Return on capital employed % | 12% | 8.2% | 5.3% | 4.5% |
| Return on equity % | 10.4% | 6.6% | 3.2% | 0.2% |
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.