Consolidated figures
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Margins | ||||
| Gross margin % | 19.2% | 21.7% | 23.7% | 25.8% |
| EBITDA margin % | 2.1% | -2.2% | 1.8% | -1.9% |
| EBIT margin % | -1% | -4% | 0.7% | -3.1% |
| PAT margin % | -4.1% | 1.3% | 4.1% | 42.2% |
| Working capital | ||||
| Receivable days | 7 | 180 | 9 | 9 |
| Inventory days | 1,280 | 2,309 | 1,776 | 2,060 |
| Payable days | 293 | 297 | 442 | 662 |
| NWC days | 994 | 2,192 | 1,344 | 1,407 |
| Leverage | ||||
| Current ratio | 1.23 | 1.23 | 1.18 | 1.16 |
| Debt to EBITDA | 52.7 | — | 53.81 | — |
| Debt to equity | 35.97 | 3.06 | 3.26 | 1.59 |
| Interest coverage | 0.2 | 1.1 | 3 | 1.7 |
| Asset turnover | 0.26 | 0.15 | 0.19 | 0.15 |
| Return ratios | ||||
| Return on assets % | -1.1% | 0.2% | 0.8% | 6.3% |
| Return on capital employed % | 1.2% | 2.1% | 7.3% | 3.4% |
| Return on equity % | -134% | 2.6% | 13.9% | 59.2% |
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.