Ratios

Dupont Analysis

Metric	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017
ROE	4.40%	-25.13%	3.18%	-39.86%	-89.34%
PAT margin	-15.47%	-8.62%	0.77%	-6.94%	1.43%
Asset Turnover	0.89x	0.91x	0.89x	0.78x	0.60x
Leverage	3.72x	4.35x	5.34x	6.28x	10.37x

Metric	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017
Inventory Days	207.6	211.9	213.8	217.6	252.6
Receivable Days	76.2	73.7	73.7	76.4	82.4
Payable Days	158.3	123.5	140.1	161.4	194.2
Cash Conversion Cycle	125.4	162.2	147.4	132.5	140.8

Metric	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017
ROE	4.40%	-25.13%	3.18%	-39.86%	-89.34%
ROCE	11.39%	2.87%	11.62%	2.85%	-0.12%
ROA	1.18%	-5.77%	0.60%	-6.34%	-8.61%