Manav infra projects (NSE:MANAV) ROC % : -26.60% (As of Mar. 2022)

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What is Manav infra projects ROC %?

ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. Manav infra projects's annualized return on capital (ROC %) for the quarter that ended in Mar. 2022 was -26.60%.

As of today (2024-06-02), Manav infra projects's WACC % is 0.00%. Manav infra projects's ROC % is 0.00% (calculated using TTM income statement data). Manav infra projects earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Manav infra projects ROC % Historical Data

The historical data trend for Manav infra projects's ROC % 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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Manav infra projects ROC % Chart

Manav infra projects Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

ROC %

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9.94

-21.07

-27.93

-20.22

14.70

Manav infra projects Semi-Annual Data
	Mar13	Mar14	Mar15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Mar23
ROC %	Get a 7-Day Free Trial												-27.55	-26.89	-13.19	-26.60	-

Manav infra projects ROC % Calculation

Manav infra projects's annualized Return on Capital (ROC %) for the fiscal year that ended in Mar. 2023 is calculated as:

	ROC % (A: Mar. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (A: Mar. 2022 )	+	Invested Capital (A: Mar. 2023 ))	/ count )
=	22.468 * ( 1 - 20.68% )	/	( (122.069	+	120.47)	/ 2 )
=	17.8216176	/	121.2695
=	14.70 %

where

	Invested Capital		(A: Mar. 2022 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	102.236	-	19.106	-	( 0.594	-	max(0, 90.276	-	51.337	+	0.594	))
=	122.069

	Invested Capital		(A: Mar. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	95.904	-	23.034	-	( 0.189	-	max(0, 98.053	-	50.453	+	0.189	))
=	120.47

Manav infra projects's annualized Return on Capital (ROC %) for the quarter that ended in Mar. 2022 is calculated as:

	ROC % (Q: Mar. 2022 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2021 )	+	Invested Capital (Q: Mar. 2022 ))	/ count )
=	-34.276 * ( 1 - 3.18% )	/	( (127.455	+	122.069)	/ 2 )
=	-33.1860232	/	124.762
=	-26.60 %

where

	Invested Capital		(Q: Sep. 2021 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	125.096	-	15.651	-	( 0.012	-	max(0, 81.272	-	63.262	+	0.012	))
=	127.455

	Invested Capital		(Q: Mar. 2022 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	102.236	-	19.106	-	( 0.594	-	max(0, 90.276	-	51.337	+	0.594	))
=	122.069

Note: The Operating Income data used here is two times the semi-annual (Mar. 2022) data.

Manav infra projects (NSE:MANAV) ROC % Explanation

ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. The reason book values of debt and equity are used is because the book values are the capital the company received when issuing the debt or receiving the equity investments.

There are four key components to this definition. The first is the use of operating income or EBIT rather than net income in the numerator. The second is the tax adjustment to this operating income or EBIT, computed as a hypothetical tax based on an effective or marginal tax rate. The third is the use of book values for invested capital, rather than market values. The final is the timing difference; the capital invested is from the end of the prior year whereas the operating income or EBIT is the current year's number.

Why is ROC % important?

Because it costs money to raise capital. A firm that generates higher returns on investment than it costs the company to raise the capital needed for that investment is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases, whereas a firm that earns returns that do not match up to its cost of capital will destroy value as it grows.

As of today, Manav infra projects's WACC % is 0.00%. Manav infra projects's ROC % is 0.00% (calculated using TTM income statement data). Manav infra projects earns returns that do not match up to its cost of capital. It will destroy value as it grows.

Be Aware

Like ROE % and ROA %, ROC % is calculated with only 12 months of data. Fluctuations in the company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.

Manav infra projects ROC % Related Terms

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Manav infra projects (NSE:MANAV) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Construction » Manav infra projects Ltd (NSE:MANAV) » Definitions » ROC %

Traded in Other Exchanges

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Address

Akurli Road, 226, Gundecha Industrial - Complex, Near Growels Mall, Kandivali (East), Mumbai, MH, IND, 400101

Website

https://www.manavinfra.com

Manav infra projects Ltd is engaged in civil construction services such as piling, excavation, road construction, land leveling. It also provides earth moving machines and construction equipment on rent for infrastructure and construction-related work. Some of the company's projects include Sevens Sagbag, Aroha, HDIL Commercial Basement Work, and others.

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