DuPont Decomposition

Why does UNIENTER earn its ROE?

Breaking down Return on Equity into profitability, efficiency, and leverage.

ROE = Net Margin × Asset Turnover × Equity Multiplier

0.8% = 64.7% × 0.01 × 1.07

Latest: FY2026

Profitability

Net Margin

64.7%

4469.1% →64.7%

How much profit per ₹ of revenue

Efficiency

Asset Turnover

0.01x

37.01x →0.01x

Revenue per ₹ of assets

Leverage

Equity Multiplier

1.07x

1.04x →1.07x

Assets funded by equity vs debt

Trend Analysis

ROE declined by 171680.2 pp over 5 years. Driven by net margin declining (4469.1% → 64.7%), asset turnover declining (37.01x → 0.01x).

Historical Decomposition

Last 5 years

YearRevenuePATNet MarginAsset TOLeverageROE
FY20220Cr0.5Cr4469.1%37.011.04171681.1%
FY20230Cr0.4Cr2664.9%0.001.031.3%
FY20240Cr0Cr76.2%0.021.001.9%
FY20250Cr0Cr0.3%0.041.040.0%
FY20260Cr0Cr64.7%0.011.070.8%

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)

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DuPont decomposition from audited annual financials. Factual analysis, not investment advice.

UNIENTER DuPont Analysis — ROE 0.8% | YieldIQ