Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | — | — | 88.4% | 78.2% | 90.8% | — |
| EBITDA margin % | 5.8% | 10.3% | 10.6% | 7.5% | 4.2% | 3.3% |
| EBIT margin % | 1.9% | 7.9% | 8.9% | 5.7% | 2.1% | 1.7% |
| PAT margin % | -1% | 5.5% | 5.5% | 6.5% | 0.9% | 1.5% |
| Working capital | ||||||
| Receivable days | 125 | 99 | 106 | 95 | 100 | 114 |
| Inventory days | 18 | 14 | 4 | 2 | 5 | 0 |
| Payable days | 24 | 15 | 215 | 58 | 116 | 8 |
| NWC days | 120 | 98 | -105 | 39 | -11 | 106 |
| Leverage | ||||||
| Current ratio | 1.72 | 1.7 | 1.4 | 2 | 1.96 | 2.12 |
| Debt to EBITDA | 3.72 | 1.72 | 1.72 | 2.5 | 4.36 | 4.77 |
| Debt to equity | 0.97 | 0.9 | 0.86 | 0.82 | 0.71 | 0.62 |
| Interest coverage | 0.8 | 4 | 5.1 | 5.4 | 1.7 | 2 |
| Asset turnover | 1.31 | 1.85 | 1.84 | 2.06 | 1.95 | 2.01 |
| Return ratios | ||||||
| Return on assets % | -1.2% | 10.2% | 10.1% | 13.3% | 1.7% | 2.9% |
| Return on capital employed % | 6.5% | 31.5% | 34.4% | 38.3% | 9.1% | 10.6% |
| Return on equity % | -4.2% | 28.2% | 25.8% | 28.3% | 3.4% | 5.7% |
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.