Bharat Electronics (NSE:BEL) ROCE % : 28.47% (As of Dec. 2023)

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What is Bharat Electronics 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. Bharat Electronics's annualized ROCE % for the quarter that ended in Dec. 2023 was 28.47%.

Bharat Electronics ROCE % Historical Data

The historical data trend for Bharat Electronics'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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Bharat Electronics ROCE % Chart

Bharat Electronics Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

ROCE %

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27.17

22.71

24.42

23.50

26.92

Bharat Electronics Quarterly Data
	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Sep23	Dec23
ROCE %	Get a 7-Day Free Trial															22.10	21.66	47.80	27.06	28.47

Bharat Electronics ROCE % Calculation

Bharat Electronics's annualized ROCE % for the fiscal year that ended in Mar. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	39375	/	( ( (339105.8 - 195810.4)	+	(354911.7 - 205657.8) )	/ 2 )
	=	39375	/	( (143295.4	+	149253.9)	/ 2 )
	=	39375	/	146274.65
	=	26.92 %

Bharat Electronics's ROCE % of for the quarter that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	45298.4	/	( ( (362669.1 - 203583)	+	(0 - 0) )	/ 1 )
	=	45298.4	/	( ( 159086.1	+	0 )	/ 1 )
	=	45298.4	/	159086.1
	=	28.47 %

(1) Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

Bharat Electronics (NSE:BEL) 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.

Bharat Electronics ROCE % Related Terms

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Bharat Electronics (NSE:BEL) Business Description

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GURUFOCUS.COM » STOCK LIST » Industrials » Aerospace & Defense » Bharat Electronics Ltd (NSE:BEL) » Definitions » ROCE %

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500049:India

Address

Outer Ring Road, Nagavara, Bengaluru, KA, IND, 560 045

Website

https://bel-india.in

Bharat Electronics Ltd is an aerospace and defense company owned by the Indian government. It manufactures a wide range of specialized electronics for defense and civilian use. Its investments are made in research and development to meet the ever-changing needs of customers and to test products in its pipeline. With approximately three fourths of its revenue derived from the defense sector, relationships with government officials and military camps are critical. The company created a marketing division to take advantage of export opportunities. It ships products to countries with favorable relationships to India and looks to identify long-term supply chain relationships with global players.

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