Indian metal and mining companies are one of the fast-growing segments in the manufacturing sector, contributing significantly to industrial growth, employment and Gross Domestic Production (GDP) of the Indian economy. The present study examines the performance of top Indian metal and mining companies listed in the National Stock Exchange (NSE) NIFTY500 Index using the DuPont Model. By taking a sample of 14 companies spanning over 10 years, the study seeks to identify the degree to which DuPont components influence the Return on Equity. (ROE). Therefore, a financial performance proxy, ROE, is taken as the dependent variable, while Profit Margin (PM), Total Asset Turnover (TAT) and Equity Multiplier (EM) act as independent variables. The study used a correlation matrix, fixed effect, and LSDV model to analyze the data. It found that profit margin is the prime predictor of ROE, followed by asset turnover and equity multiplier. This result helps managers, investors, and policymakers make informed financial decisions.