Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 15% | 3.4% | 5.1% | 5.9% | 3.1% | 3.1% |
| EBITDA margin % | 10.4% | -0.3% | 2.5% | 1% | -4.5% | -9.7% |
| EBIT margin % | 9.4% | -0.8% | 1.8% | 0.2% | -5.9% | -10.9% |
| PAT margin % | -4.7% | 9.6% | -3.3% | 3% | -2.3% | 3.7% |
| Working capital | ||||||
| Receivable days | 347 | 62 | 130 | 120 | 97 | 103 |
| Inventory days | 156 | 36 | 10 | 8 | 4 | 4 |
| Payable days | 216 | 84 | 48 | 13 | 47 | 44 |
| NWC days | 287 | 14 | 93 | 115 | 54 | 62 |
| Leverage | ||||||
| Current ratio | 1.84 | 1.22 | 2.14 | 4.47 | 1.75 | 1.65 |
| Debt to EBITDA | 5.38 | — | 2.59 | 7.95 | — | — |
| Debt to equity | 0.63 | 0.12 | 0.09 | 0.07 | 0.14 | 0.19 |
| Interest coverage | 1.5 | 19.1 | -8.3 | 9.4 | -0.5 | 12.5 |
| Asset turnover | 0.5 | 0.94 | 1.05 | 0.8 | 0.66 | 0.66 |
| Return ratios | ||||||
| Return on assets % | -2.3% | 9% | -3.4% | 2.4% | -1.5% | 2.4% |
| Return on capital employed % | 9.8% | 27.6% | -6.8% | 6.3% | -0.4% | 13.8% |
| Return on equity % | -5.2% | 14.5% | -4.7% | 2.8% | -2.1% | 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.