Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 19.4% | 24.5% | 18.6% | 18.7% | 21.2% | 9.3% |
| EBITDA margin % | 4.8% | 5.8% | -3.1% | 1.6% | 2.4% | -11.5% |
| EBIT margin % | 3.6% | 4.7% | -3.7% | 0.6% | 1.5% | -12.9% |
| PAT margin % | -0.1% | -0.8% | -6.7% | 2% | -0.4% | -11.8% |
| Working capital | ||||||
| Receivable days | 192 | 252 | — | 100 | 168 | 255 |
| Inventory days | 77 | 140 | — | 67 | 59 | 66 |
| Payable days | 170 | 171 | — | 56 | 129 | 223 |
| NWC days | 99 | 221 | — | 111 | 98 | 98 |
| Leverage | ||||||
| Current ratio | 1.49 | 1.83 | — | 1.73 | 1.32 | 1.09 |
| Debt to EBITDA | 5.2 | 6.38 | — | 7.22 | 8.21 | — |
| Debt to equity | 0.48 | 0.55 | — | 0.36 | 0.72 | 1.99 |
| Interest coverage | 2 | 1.4 | -0.9 | 1.8 | 0.9 | -3.1 |
| Asset turnover | 0.77 | 0.63 | — | 1.41 | 1.15 | 0.81 |
| Return ratios | ||||||
| Return on assets % | -0.1% | -0.5% | — | 2.7% | -0.5% | -9.5% |
| Return on capital employed % | 8.7% | 6.5% | — | 8.5% | 6.1% | -35.8% |
| Return on equity % | -0.2% | -1.3% | — | 6.1% | -1.6% | -67% |
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.