Ratios

Dupont Analysis

Metric	Mar 2002	Mar 2003	Mar 2004	Mar 2005
ROE	1.59%	3.03%	5.83%	15.19%
PAT margin	6.87%	2.29%	1.53%	0.76%
Asset Turnover	0.73x	0.61x	0.68x	0.58x
Leverage	2.87x	3.26x	3.77x	3.83x

Metric	Mar 2002	Mar 2003	Mar 2004	Mar 2005
Inventory Days	71.2	77.9	51.5	58.2
Receivable Days	132.0	154.9	137.5	152.4
Payable Days	422.6	589.1	365.0	437.6
Cash Conversion Cycle	-219.4	-356.3	-176.0	-227.1

Metric	Mar 2002	Mar 2003	Mar 2004	Mar 2005
ROE	1.59%	3.03%	5.83%	15.19%
ROCE	9.53%	12.01%	11.54%	16.89%
ROA	0.55%	0.93%	1.55%	3.97%