DuPont Decomposition
Why does NOIDATOLL earn its ROE?
Breaking down Return on Equity into profitability, efficiency, and leverage.
ROE = Net Margin × Asset Turnover × Equity Multiplier
-15.5% = -152.3% × 0.06 × 1.70
Latest: FY2024
Profitability
Net Margin
-152.3%
-256.0% →-152.3%
How much profit per ₹ of revenue
Efficiency
Asset Turnover
0.06x
0.04x →0.06x
Revenue per ₹ of assets
Leverage
Equity Multiplier
1.70x
1.48x →1.70x
Assets funded by equity vs debt
Trend Analysis
ROE stable at ~-16%. Driven by net margin improving (-256.0% → -152.3%), leverage rising (1.48x → 1.70x).
Historical Decomposition
Last 3 years
| Year | Revenue | PAT | Net Margin | Asset TO | Leverage | ROE |
|---|---|---|---|---|---|---|
| FY2022 | ₹0Cr | ₹-0Cr | -256.0% | 0.04 | 1.48 | -15.2% |
| FY2023 | ₹0Cr | ₹-0Cr | -148.4% | 0.06 | 1.62 | -14.9% |
| FY2024 | ₹0Cr | ₹-0Cr | -152.3% | 0.06 | 1.70 | -15.5% |
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.