DuPont Decomposition
Why does UNOMINDA earn its ROE?
Breaking down Return on Equity into profitability, efficiency, and leverage.
ROE = Net Margin × Asset Turnover × Equity Multiplier
15.4% = 5.7% × 1.41 × 1.92
Latest: FY2025
Profitability
Net Margin
5.7%
6.7% →5.7%
How much profit per ₹ of revenue
Efficiency
Asset Turnover
1.41x
0.35x →1.41x
Revenue per ₹ of assets
Leverage
Equity Multiplier
1.92x
2.00x →1.92x
Assets funded by equity vs debt
Trend Analysis
ROE improved by 10.8 pp over 3 years. Driven by net margin declining (6.7% → 5.7%), asset turnover improving (0.35x → 1.41x).
Historical Decomposition
Last 3 years
| Year | Revenue | PAT | Net Margin | Asset TO | Leverage | ROE |
|---|---|---|---|---|---|---|
| FY2023 | ₹0Cr | ₹0Cr | 6.7% | 0.35 | 2.00 | 4.7% |
| FY2024 | ₹0Cr | ₹0Cr | 8.0% | 0.38 | 2.00 | 6.1% |
| FY2025 | ₹0Cr | ₹0Cr | 5.7% | 1.41 | 1.92 | 15.4% |
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.