DuPont Decomposition
Why does ANUHPHR earn its ROE?
Breaking down Return on Equity into profitability, efficiency, and leverage.
ROE = Net Margin × Asset Turnover × Equity Multiplier
11.7% = 5.3% × 1.38 × 1.58
Latest: FY2026
Profitability
Net Margin
5.3%
6.3% →5.3%
How much profit per ₹ of revenue
Efficiency
Asset Turnover
1.38x
1.40x →1.38x
Revenue per ₹ of assets
Leverage
Equity Multiplier
1.58x
1.62x →1.58x
Assets funded by equity vs debt
Trend Analysis
ROE declined by 2.7 pp over 5 years.
Historical Decomposition
Last 5 years
| Year | Revenue | PAT | Net Margin | Asset TO | Leverage | ROE |
|---|---|---|---|---|---|---|
| FY2022 | ₹0Cr | ₹0Cr | 6.3% | 1.40 | 1.62 | 14.3% |
| FY2023 | ₹0Cr | ₹0Cr | 6.9% | 1.30 | 1.68 | 15.0% |
| FY2024 | ₹0Cr | ₹0Cr | 9.3% | 1.45 | 1.53 | 20.6% |
| FY2025 | ₹0Cr | ₹0Cr | 7.2% | 1.31 | 1.55 | 14.5% |
| FY2026 | ₹0Cr | ₹0Cr | 5.3% | 1.38 | 1.58 | 11.7% |
How to read DuPont
- • Rising ROE from margin = pricing power, operational improvement (good)
- • Rising ROE from turnover = better asset utilization (good)
- • Rising ROE from leverage = more debt, amplified risk (caution)
- • Falling ROE across all three = structural deterioration (red flag)
DuPont decomposition from audited annual financials. Factual analysis, not investment advice.