Ratios

Dupont Analysis

Metric	Mar 2002	Mar 2003	Mar 2004
ROE	1.11%	1.48%	20.80%
PAT margin	4.98%	0.41%	0.50%
Asset Turnover	0.97x	1.45x	1.43x
Leverage	2.43x	2.57x	2.95x

Metric	Mar 2002	Mar 2003	Mar 2004
Inventory Days	89.4	72.6	71.2
Receivable Days	71.6	47.7	58.3
Payable Days	125.7	91.9	98.3
Cash Conversion Cycle	35.2	28.4	31.2

Metric	Mar 2002	Mar 2003	Mar 2004
ROE	1.11%	1.48%	20.80%
ROCE	11.90%	19.20%	31.37%
ROA	0.46%	0.58%	7.04%