Ratios

Dupont Analysis

Metric	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016
ROE	-16.05%	-15.11%	-38.85%	-3.27%	-13.74%
PAT margin	-2.52%	-0.43%	-4.76%	-2.37%	-2.31%
Asset Turnover	2.11x	1.85x	1.98x	1.69x	1.30x
Leverage	3.46x	3.63x	4.35x	4.76x	4.43x

Metric	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016
Inventory Days	68.7	74.4	65.2	84.6	117.6
Receivable Days	31.3	35.2	34.9	41.4	58.0
Payable Days	33.2	46.8	56.8	73.1	106.9
Cash Conversion Cycle	66.8	62.8	43.3	52.9	68.7

Metric	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016
ROE	-16.05%	-15.11%	-38.85%	-3.27%	-13.74%
ROCE	-1.28%	-2.44%	-5.35%	8.29%	1.83%
ROA	-4.64%	-4.16%	-8.92%	-0.69%	-3.10%