Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 26.9% | 39.1% | 21.1% | 27.9% | 30.1% | 27.7% |
| EBITDA margin % | 11.9% | 13.5% | -49.9% | -7% | -8.3% | -22.9% |
| EBIT margin % | 10.2% | 11.8% | -55% | -7.9% | -9.7% | -25.7% |
| PAT margin % | 6.3% | 9% | -58.1% | -7.1% | 5.4% | -30.3% |
| Working capital | ||||||
| Receivable days | 16 | 21 | 233 | 96 | 95 | 115 |
| Inventory days | 184 | 260 | 239 | 480 | 571 | 683 |
| Payable days | 66 | 45 | 81 | 44 | 50 | 44 |
| NWC days | 134 | 236 | 390 | 532 | 616 | 755 |
| Leverage | ||||||
| Current ratio | 1.42 | 1.36 | 0.5 | 1.8 | 0.9 | 0.88 |
| Debt to EBITDA | 1.75 | 2.46 | — | — | — | — |
| Debt to equity | 0.63 | 0.82 | 0.05 | 0.01 | 0.37 | 0.9 |
| Interest coverage | 9.9 | 10.6 | -14.9 | -15.1 | 3.3 | -2.1 |
| Asset turnover | 1.3 | 1.09 | 0.11 | 0.38 | 0.34 | 0.24 |
| Return ratios | ||||||
| Return on assets % | 8.1% | 9.9% | -6.2% | -2.7% | 1.8% | -7.3% |
| Return on capital employed % | 24.6% | 25.7% | -0.3% | -4.3% | 5.1% | -13.2% |
| Return on equity % | 18.9% | 22.2% | -13.9% | -8% | 4.6% | -24.3% |
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.