Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 15% | 15.3% | 14.1% | 13.2% |
| EBITDA margin % | 4.5% | 4.5% | ||
| 2.8% |
| 2.9% |
| EBIT margin % | 2.8% | 2.9% | 1% | 0.9% |
| PAT margin % | 1.3% | 1.4% | -0.2% | -0.2% |
| Working capital | ||||
| Receivable days | 17 | 19 | 15 | 15 |
| Inventory days | 38 | 45 | 45 | 41 |
| Payable days | 8 | 12 | 6 | 7 |
| NWC days | 47 | 53 | 53 | 49 |
| Leverage | ||||
| Current ratio | 1.11 | 1.35 | 1.28 | 1.04 |
| Debt to EBITDA | 2.32 | 1.74 | 2.73 | 3.8 |
| Debt to equity | 1.47 | 0.68 | 0.66 | 1.11 |
| Interest coverage | 2.2 | 2 | 0.9 | 0.7 |
| Asset turnover | 3.24 | 2.87 | 2.91 | 2.68 |
| Return ratios | ||||
| Return on assets % | 4.3% | 3.9% | -0.5% | -0.5% |
| Return on capital employed % | 18.5% | 19.6% | 6.6% | 6.1% |
| Return on equity % | 18.7% | 11.6% | -1.6% | -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.