Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 52.9% | 58% | 59.8% | 64.5% | 58.1% | 61.9% |
| EBITDA margin % | 5.1% | -6.8% | -0.7% | 0.6% | 4.7% | 3.4% |
| EBIT margin % | -2.7% | -14.8% | -7.4% | -5.6% | 0.4% | -0.4% |
| PAT margin % | 8.8% | 8% | -8.5% | -1.4% | 4.4% | -2.5% |
| Working capital | ||||||
| Receivable days | 126 | 83 | 68 | 94 | 124 | 147 |
| Inventory days | 308 | 322 | 236 | 244 | 192 | 218 |
| Payable days | 113 | 118 | 82 | 108 | 74 | 172 |
| NWC days | 322 | 287 | 222 | 230 | 242 | 194 |
| Leverage | ||||||
| Current ratio | 2.63 | 2.46 | 2.22 | 1.91 | 2.32 | 1.73 |
| Debt to EBITDA | 8.2 | — | — | 56.36 | 5.85 | 8.3 |
| Debt to equity | 0.16 | 0.14 | 0.16 | 0.19 | 0.2 | 0.28 |
| Interest coverage | 3.3 | 3.7 | -1.5 | 0.7 | 2.3 | 0.4 |
| Asset turnover | 0.3 | 0.33 | 0.42 | 0.43 | 0.5 | 0.59 |
| Return ratios | ||||||
| Return on assets % | 2.6% | 2.7% | -3.6% | -0.6% | 2.2% | -1.5% |
| Return on capital employed % | 4.8% | 5.4% | -2.6% | 1.5% | 5.9% | 1.1% |
| Return on equity % | 3.4% | 3.3% | -4.6% | -0.8% | 3.2% | -2.6% |
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.