Consolidated figures
| Ratio | Mar 2017 | Mar 2018 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | — | — | 23.8% | 19.5% | 21.5% | 15.4% | 17.1% |
| EBITDA margin % | 4.6% | 4.1% | -9.2% | -3.9% | 0.6% | -0.7% | -1.8% |
| EBIT margin % | 3.2% | 2.9% | -11.9% | -6% | -1.2% | -2% | -3.1% |
| PAT margin % | 1.1% | 0.7% | 11% | 14.9% | 1.9% | 4.6% | 9.3% |
| Working capital | |||||||
| Receivable days | 104 | 37 | 12 | 77 | 12 | 5 | 2 |
| Inventory days | 21 | 25 | 18 | 10 | 12 | 5 | 3 |
| Payable days | 102 | 16 | 16 | 70 | 10 | 6 | 6 |
| NWC days | 22 | 45 | 13 | 16 | 13 | 4 | -1 |
| Leverage | |||||||
| Current ratio | 1.34 | 1.71 | 1.89 | 1.88 | 2.13 | 3.1 | 3.91 |
| Debt to EBITDA | 6.67 | 7.13 | — | — | 71.02 | — | — |
| Debt to equity | 0.63 | 0.58 | 0.18 | 0.22 | 0.25 | 0.21 | 0.42 |
| Interest coverage | 1.5 | 1.3 | 2.6 | 7.3 | 1.4 | 2.1 | 2.2 |
| Asset turnover | 0.87 | 1.07 | 0.43 | 0.38 | 0.49 | 0.58 | 0.44 |
| Return ratios | |||||||
| Return on assets % | 1% | 0.7% | 4.7% | 5.7% | 0.9% | 2.6% | 4.1% |
| Return on capital employed % | 6.4% | 5.5% | 7.4% | 7.1% | 2.2% | 3.2% | 4.1% |
| Return on equity % | 2.2% | 1.4% | 5.9% | 7.5% | 1.2% | 3.3% | 5.9% |
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.