DuPont Decomposition
Why does REPRO earn its ROE?
Breaking down Return on Equity into profitability, efficiency, and leverage.
ROE = Net Margin × Asset Turnover × Equity Multiplier
-9.5% = -6.7% × 0.79 × 1.79
Latest: FY2026
Profitability
Net Margin
-6.7%
-8.4% →-6.7%
How much profit per ₹ of revenue
Efficiency
Asset Turnover
0.79x
0.64x →0.79x
Revenue per ₹ of assets
Leverage
Equity Multiplier
1.79x
1.60x →1.79x
Assets funded by equity vs debt
Trend Analysis
ROE stable at ~-10%. Driven by net margin improving (-8.4% → -6.7%), asset turnover improving (0.64x → 0.79x).
Historical Decomposition
Last 5 years
| Year | Revenue | PAT | Net Margin | Asset TO | Leverage | ROE |
|---|---|---|---|---|---|---|
| FY2022 | ₹0Cr | ₹-0Cr | -8.4% | 0.64 | 1.60 | -8.6% |
| FY2023 | ₹0Cr | ₹0Cr | 2.2% | 0.88 | 1.57 | 3.0% |
| FY2024 | ₹0Cr | ₹0Cr | 2.6% | 0.94 | 1.30 | 3.1% |
| FY2025 | ₹0Cr | ₹-0Cr | -0.4% | 0.85 | 1.43 | -0.5% |
| FY2026 | ₹0Cr | ₹-0Cr | -6.7% | 0.79 | 1.79 | -9.5% |
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.