Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 81.1% | 68.4% | 55.9% | 64.9% | 61.4% | 61.3% |
| EBITDA margin % | 3.6% | 3.7% | 1.4% | 2.7% | 2.7% | 5.9% |
| EBIT margin % | 2.9% | 3.1% | 0.7% | 1.8% | 1.4% | 4.8% |
| PAT margin % | 1% | 2.5% | 5.2% | -1.3% | 1.9% | 5.3% |
| Working capital | ||||||
| Receivable days | 24 | 45 | 57 | 52 | 78 | 66 |
| Inventory days | 683 | 509 | 389 | 834 | 648 | 579 |
| Payable days | 591 | 419 | 360 | 586 | 292 | 301 |
| NWC days | 116 | 135 | 86 | 300 | 434 | 344 |
| Leverage | ||||||
| Current ratio | 1.05 | 1.53 | 2.23 | 2.46 | 3.3 | 3.44 |
| Debt to EBITDA | 12.55 | 6.51 | 2.93 | 4.27 | 3.43 | 2.18 |
| Debt to equity | 1.46 | 0.46 | 0.05 | 0.08 | 0.06 | 0.08 |
| Interest coverage | 2.3 | 3.3 | 13.6 | 3 | 3.6 | 6.1 |
| Asset turnover | 0.84 | 0.82 | 0.67 | 0.45 | 0.43 | 0.45 |
| Return ratios | ||||||
| Return on assets % | 0.8% | 2.1% | 3.5% | -0.6% | 0.8% | 2.4% |
| Return on capital employed % | 10.8% | 8.2% | 4.5% | 1.5% | 1.6% | 3.7% |
| Return on equity % | 3.1% | 4.9% | 5.7% | -0.9% | 1.1% | 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.