Tamilnadu Steel Tubes (BOM:513540) ROCE % : 2.51% (As of Mar. 2024)

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What is Tamilnadu Steel Tubes ROCE %?

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Tamilnadu Steel Tubes's annualized ROCE % for the quarter that ended in Mar. 2024 was 2.51%.

Tamilnadu Steel Tubes ROCE % Historical Data

The historical data trend for Tamilnadu Steel Tubes's ROCE % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Tamilnadu Steel Tubes ROCE % Chart

Tamilnadu Steel Tubes Annual Data

Trend

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

ROCE %

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-10.95

0.93

5.90

3.96

2.85

Tamilnadu Steel Tubes Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
ROCE %	Get a 7-Day Free Trial															10.48	3.18	3.01	2.67	2.51

Tamilnadu Steel Tubes ROCE % Calculation

Tamilnadu Steel Tubes's annualized ROCE % for the fiscal year that ended in Mar. 2024 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Mar. 2024 )		(A: Mar. 2023 )		(A: Mar. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Mar. 2024 )		(A: Mar. 2023 )		(A: Mar. 2024 )
	=	6.751	/	( ( (325.858 - 90.992)	+	(318.39 - 78.938) )	/ 2 )
	=	6.751	/	( (234.866	+	239.452)	/ 2 )
	=	6.751	/	237.159
	=	2.85 %

Tamilnadu Steel Tubes's ROCE % of for the quarter that ended in Mar. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Mar. 2024 )		(Q: Dec. 2023 )		(Q: Mar. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Mar. 2024 )		(Q: Dec. 2023 )		(Q: Mar. 2024 )
	=	6.016	/	( ( (0 - 0)	+	(318.39 - 78.938) )	/ 1 )
	=	6.016	/	( ( 0	+	239.452 )	/ 1 )
	=	6.016	/	239.452
	=	2.51 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

Tamilnadu Steel Tubes (BOM:513540) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Tamilnadu Steel Tubes ROCE % Related Terms

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Tamilnadu Steel Tubes (BOM:513540) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Tamilnadu Steel Tubes Ltd (BOM:513540) » Definitions » ROCE %

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Address

No. 65, Pantheon Road, Mercury Apartments, 1st Floor, Egmore, Chennai, TN, IND, 600 008

Website

https://www.tntpipes.com

Tamilnadu Steel Tubes Ltd manufactures Mild Steel Tubes, both Black and Galvanised, Square and Rectangle Pipes. The company has its manufacturing unit located at Maraimalai Nagar, Kanchipuram District, Tamil Nadu. The company is engaged in manufacturing and exporting a wide range of MS Pipes, GI Pipes, Square Pipes and Rectangle Pipes.

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