Ice Make Refrigeration (NSE:ICEMAKE) ROCE % : 61.06% (As of Mar. 2024)

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What is Ice Make Refrigeration 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. Ice Make Refrigeration's annualized ROCE % for the quarter that ended in Mar. 2024 was 61.06%.

Ice Make Refrigeration ROCE % Historical Data

The historical data trend for Ice Make Refrigeration'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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Ice Make Refrigeration ROCE % Chart

Ice Make Refrigeration Annual Data

Trend

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

ROCE %

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16.02

11.62

17.34

38.22

34.50

Ice Make Refrigeration Quarterly Data
	Mar19	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															54.87	34.25	26.94	13.56	61.06

Ice Make Refrigeration ROCE % Calculation

Ice Make Refrigeration'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 )
	=	373.117	/	( ( (1590.235 - 728.151)	+	(2113.798 - 812.958) )	/ 2 )
	=	373.117	/	( (862.084	+	1300.84)	/ 2 )
	=	373.117	/	1081.462
	=	34.50 %

Ice Make Refrigeration'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 )
	=	794.352	/	( ( (0 - 0)	+	(2113.798 - 812.958) )	/ 1 )
	=	794.352	/	( ( 0	+	1300.84 )	/ 1 )
	=	794.352	/	1300.84
	=	61.06 %

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

Ice Make Refrigeration (NSE:ICEMAKE) 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.

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Ice Make Refrigeration (NSE:ICEMAKE) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Ice Make Refrigeration Ltd (NSE:ICEMAKE) » Definitions » ROCE %

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Address

226, Gota-Vadsar Road, Dantali Industrial Estate, Taluka Kalol, Dantali, Near Ahmedabad City, Gandhinagar, GJ, IND, 382721

Website

https://www.icemakeindia.com

Ice Make Refrigeration Ltd is a refrigeration equipment manufacturer, engaged in providing cooling solutions. The company's only operating segment being the Manufacturing of Cold Rooms, Freezer, Refrigeration Systems, and chilling Plant. It serves dairy, ice cream, food processing, agriculture, pharmaceuticals, cold chain, logistics, hospitals, hospitality, retail, and other industries. The company's product offering includes Bulk Milk Chiller, Curd Incubation Chamber, Glass Door Display Chiller, Mortuary Chamber, Refrigerated Container, and other related products.

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