Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 36.2% | 16.2% | 27.8% | 20.8% |
| EBITDA margin % | 15.1% | 4.9% | 10.7% | 4.6% |
| EBIT margin % | 14.5% | 4.6% | 10.1% | 4% |
| PAT margin % | 11.6% | 5% | 9.4% | 3.6% |
| Working capital | ||||
| Receivable days | 33 | 17 | 15 | 47 |
| Inventory days | 2,143 | 727 | 974 | 642 |
| Payable days | 294 | 126 | 200 | 183 |
| NWC days | 1,882 | 618 | 790 | 506 |
| Leverage | ||||
| Current ratio | 1.46 | 1.5 | 1.69 | 1.77 |
| Debt to EBITDA | 9.92 | 9.9 | 4.2 | 11.98 |
| Debt to equity | 0.62 | 0.6 | 0.33 | 0.51 |
| Interest coverage | 3.8 | 3.9 | 6.2 | 2.4 |
| Asset turnover | 0.15 | 0.37 | 0.3 | 0.39 |
| Return ratios | ||||
| Return on assets % | 1.8% | 1.9% | 2.8% | 1.4% |
| Return on capital employed % | 7% | 6.7% | 10.7% | 5.4% |
| Return on equity % | 4.8% | 6.2% | 6.8% | 3.3% |
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.