Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 49.2% | 44% | 42.2% | 40.9% | 41% | 31.5% |
| EBITDA margin % | 11.1% | 8.9% | 12.6% | 13.5% | 12.7% | 2.7% |
| EBIT margin % | -13.1% | -6.7% | 4.3% | 9.4% | 9% | -0.8% |
| PAT margin % | -25.9% | -0.4% | 7% | 11.3% | 10.8% | 0.8% |
| Working capital | ||||||
| Receivable days | 110 | 111 | 118 | 87 | 96 | 113 |
| Inventory days | 244 | 201 | 217 | 199 | 219 | 161 |
| Payable days | 176 | 195 | 173 | 173 | 149 | 150 |
| NWC days | 179 | 117 | 163 | 113 | 166 | 124 |
| Leverage | ||||||
| Current ratio | 3.87 | 1.87 | 1.35 | 3.04 | 2.83 | 1.89 |
| Debt to EBITDA | 9.09 | 5.4 | 3.96 | 1.22 | 1.49 | 8.98 |
| Debt to equity | 0.69 | 0.41 | 0.48 | 0.11 | 0.14 | 0.19 |
| Interest coverage | -0.9 | -0.9 | 1.5 | 6.6 | 7.6 | 3 |
| Asset turnover | 0.36 | 0.5 | 0.54 | 0.53 | 0.55 | 0.55 |
| Return ratios | ||||||
| Return on assets % | -9.4% | -0.2% | 3.8% | 5.9% | 5.9% | 0.4% |
| Return on capital employed % | -4% | -2.9% | 5.6% | 10.1% | 8.2% | 1.7% |
| Return on equity % | -17.8% | -0.3% | 6.7% | 7.9% | 7.9% | 0.6% |
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.