Maharashtra Seamless Key Ratios

The declining PAT margin from 16.43% in FY2022 to 14.76% in FY2025 indicates reduced profitability, primarily affecting ROE negatively.Asset turnover peaked in FY2023 at 1.02 but has since reverted, demonstrating fluctuating asset efficiency which also contributes to volatility in ROE.Leverage has steadily decreased, suggesting reduced reliance on debt, which may lead to lower risk but could impact growth potential.

Inventory days improved from 104.36 (FY2022) to 93.88 (FY2023), indicating better management of stock and a shift towards operational efficiency.A notable decrease in payable days from 77.62 to 24.48 suggests a shift in credit terms, potentially indicating tighter cash management or improved supplier relations.The cash conversion cycle consistently increased from 71.30 days to 117.18 days, signifying deteriorated working capital efficiency and a potential liquidity concern.

ROE has declined from 19.01% to 12.89% over the analyzed years, primarily due to falling PAT margins, indicating poor equity efficiency.ROCE saw a peak of 22.93% in FY2024, showing that the capital employed (including debt) was utilized effectively, even as overall ROE declined.The stable ROA trend until FY2024 followed by a drop suggests that while asset efficiency has been relatively stable, overall returns on equity are being dragged down by profitability issues.