DuPont Decomposition
Why does NBIFIN earn its ROE?
Breaking down Return on Equity into profitability, efficiency, and leverage.
ROE = Net Margin × Asset Turnover × Equity Multiplier
0.3% = 64.6% × 0.00 × 1.06
Latest: FY2025
Profitability
Net Margin
64.6%
67.1% →64.6%
How much profit per ₹ of revenue
Efficiency
Asset Turnover
0.00x
0.01x →0.00x
Revenue per ₹ of assets
Leverage
Equity Multiplier
1.06x
1.03x →1.06x
Assets funded by equity vs debt
Trend Analysis
ROE stable at ~0%. Driven by net margin declining (67.1% → 64.6%).
Historical Decomposition
Last 4 years
| Year | Revenue | PAT | Net Margin | Asset TO | Leverage | ROE |
|---|---|---|---|---|---|---|
| FY2022 | ₹0Cr | ₹0Cr | 67.1% | 0.01 | 1.03 | 0.4% |
| FY2023 | ₹0Cr | ₹0Cr | 58.8% | 0.00 | 1.04 | 0.1% |
| FY2024 | ₹0.1Cr | ₹0Cr | 63.4% | 0.00 | 1.04 | 0.2% |
| FY2025 | ₹0Cr | ₹0Cr | 64.6% | 0.00 | 1.06 | 0.3% |
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.