Consolidated figures
| Ratio | Mar 2016 | Mar 2017 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 43.5% | 40.4% | 36.5% | 37.1% | 35.1% | 43.3% |
| EBITDA margin % | 13.4% | 12% | 2.2% | -4.5% | -11.4% | -4.5% |
| EBIT margin % | 7.5% | 5.9% | -0.4% | -8.6% | -16.5% | -9.2% |
| PAT margin % | 2.3% | 2.5% | 0.2% | -4.2% | -7.5% | -15.3% |
| Working capital | ||||||
| Receivable days | — | — | 54 | 62 | 72 | 55 |
| Inventory days | — | — | 214 | 257 | 172 | 161 |
| Payable days | — | — | 69 | 69 | 66 | 73 |
| NWC days | — | — | 198 | 249 | 179 | 143 |
| Leverage | ||||||
| Current ratio | — | — | 0.97 | 0.91 | 0.83 | 0.85 |
| Debt to EBITDA | — | — | 21.85 | — | — | — |
| Debt to equity | — | — | 1.84 | 1.94 | 1.54 | 1.06 |
| Interest coverage | 1.6 | 1.7 | 0.9 | -0.2 | -2 | -0.9 |
| Asset turnover | — | — | 1.08 | 0.84 | 0.81 | 0.8 |
| Return ratios | ||||||
| Return on assets % | — | — | 0.2% | -3.5% | -6.1% | -12.3% |
| Return on capital employed % | — | — | 7.8% | -2.4% | -35.2% | -12.5% |
| Return on equity % | — | — | 0.8% | -12.3% | -19.1% | -31.7% |
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.