DuPont Decomposition
Why does BLISSGVS earn its ROE?
Breaking down Return on Equity into profitability, efficiency, and leverage.
ROE = Net Margin × Asset Turnover × Equity Multiplier
7.7% = 10.5% × 0.62 × 1.19
Latest: FY2025
Profitability
Net Margin
10.5%
1.9% →10.5%
How much profit per ₹ of revenue
Efficiency
Asset Turnover
0.62x
0.16x →0.62x
Revenue per ₹ of assets
Leverage
Equity Multiplier
1.19x
1.31x →1.19x
Assets funded by equity vs debt
Trend Analysis
ROE improved by 7.3 pp over 3 years. Driven by net margin improving (1.9% → 10.5%), asset turnover improving (0.16x → 0.62x).
Historical Decomposition
Last 3 years
| Year | Revenue | PAT | Net Margin | Asset TO | Leverage | ROE |
|---|---|---|---|---|---|---|
| FY2023 | ₹0Cr | ₹0Cr | 1.9% | 0.16 | 1.31 | 0.4% |
| FY2024 | ₹0Cr | ₹-0Cr | -2.5% | 0.16 | 1.26 | -0.5% |
| FY2025 | ₹0Cr | ₹0Cr | 10.5% | 0.62 | 1.19 | 7.7% |
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.