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
10.8% = 13.9% × 0.62 × 1.25
Latest: FY2026
Profitability
Net Margin
13.9%
2.0% →13.9%
How much profit per ₹ of revenue
Efficiency
Asset Turnover
0.62x
0.67x →0.62x
Revenue per ₹ of assets
Leverage
Equity Multiplier
1.25x
1.35x →1.25x
Assets funded by equity vs debt
Trend Analysis
ROE improved by 9.0 pp over 5 years. Driven by net margin improving (2.0% → 13.9%).
Historical Decomposition
Last 5 years
| Year | Revenue | PAT | Net Margin | Asset TO | Leverage | ROE |
|---|---|---|---|---|---|---|
| FY2022 | ₹0Cr | ₹0Cr | 2.0% | 0.67 | 1.35 | 1.8% |
| FY2023 | ₹0Cr | ₹0Cr | 9.5% | 0.65 | 1.31 | 8.0% |
| FY2024 | ₹0Cr | ₹0Cr | 9.8% | 0.63 | 1.25 | 7.8% |
| FY2025 | ₹0Cr | ₹0Cr | 10.4% | 0.62 | 1.24 | 8.0% |
| FY2026 | ₹0Cr | ₹0Cr | 13.9% | 0.62 | 1.25 | 10.8% |
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.