DuPont Decomposition
Why does JUBLCPL earn its ROE?
Breaking down Return on Equity into profitability, efficiency, and leverage.
ROE = Net Margin × Asset Turnover × Equity Multiplier
27.8% = 6.8% × 2.02 × 2.03
Latest: FY2026
Profitability
Net Margin
6.8%
2.4% →6.8%
How much profit per ₹ of revenue
Efficiency
Asset Turnover
2.02x
1.68x →2.02x
Revenue per ₹ of assets
Leverage
Equity Multiplier
2.03x
3.17x →2.03x
Assets funded by equity vs debt
Trend Analysis
ROE improved by 15.2 pp over 3 years. Driven by net margin improving (2.4% → 6.8%), asset turnover improving (1.68x → 2.02x), leverage falling (3.17x → 2.03x).
Historical Decomposition
Last 3 years
| Year | Revenue | PAT | Net Margin | Asset TO | Leverage | ROE |
|---|---|---|---|---|---|---|
| FY2024 | ₹0Cr | ₹0Cr | 2.4% | 1.68 | 3.17 | 12.6% |
| FY2025 | ₹0Cr | ₹0Cr | 5.6% | 2.12 | 2.26 | 27.0% |
| FY2026 | ₹0Cr | ₹0Cr | 6.8% | 2.02 | 2.03 | 27.8% |
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.