Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
HLE GlascoatNSE:HLEGLAS -20.00%92 Return-on-Tangible-Asset is 6.13% as of Mar. 2026, which is 15% below its 10-year median of 7.22. GuruFocus rates NSE:HLEGLAS with a GF Score™ of 92/100 and a GF Value™ of ₹622.20 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 3,076 Industrial Products companies, HLE Glascoat ranks better than 55.49% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. HLE Glascoat's annualizedNet Income for the quarter that ended in Mar. 2026 was ₹727 Mil. HLE Glascoat's average total tangible assets for the quarter that ended in Mar. 2026 was ₹11,860 Mil. Therefore, HLE Glascoat's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 6.13%.
The historical rank and industry rank for HLE Glascoat's Return-on-Tangible-Asset or its related term are showing as below:
NSE:HLEGLAS'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 3.13 Med: 7.22 Max: 14.86
Current: 4.09
During the past 13 years, HLE Glascoat's highest Return-on-Tangible-Asset was 14.86%. The lowest was 3.13%. And the median was 7.22%.
NSE:HLEGLAS's Return-on-Tangible-Asset is ranked better than 55.49% of 3076
companies
in the Industrial Products industry
Industry Median: 3.315
vs NSE:HLEGLAS: 4.09
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
HLE Glascoat Return-on-Tangible-Asset Related Terms
HLE Glascoat Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for HLE Glascoat's Return-on-Tangible-Asset 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.
NSE:HLEGLAS vs GEV, ETN, PH: Return-on-Tangible-Asset Comparison
For the Specialty Industrial Machinery subindustry, HLE Glascoat's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
HLE Glascoat Return-on-Tangible-Asset vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, HLE Glascoat's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where HLE Glascoat's Return-on-Tangible-Asset falls into.
* 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 6.13% mean?
HLE Glascoat (NSE:HLEGLAS) has a Return-on-Tangible-Asset of 6.13% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on HLE Glascoat and its competitors. This is 15% below median its historical median of 7.22. Over the past decade, HLE Glascoat's Return-on-Tangible-Asset has ranged from 3.13 to 14.86. According to the industry distribution chart, HLE Glascoat ranks #1369 out of 3076 companies in the Industrial Products industry, placing it in the top 44.5%.
Is HLE Glascoat's Return-on-Tangible-Asset too high?
HLE Glascoat's current Return-on-Tangible-Asset of 6.13% is 15% below median its 10-year median of 7.22. Over the past 10 years, this metric has ranged from a low of 3.13 to a high of 14.86. The Industrial Products industry median Return-on-Tangible-Asset is 3.32. HLE Glascoat's value of 6.13% is 84.9% above this industry median. Based on the distribution chart, HLE Glascoat ranks #1369 out of 3076 companies in the Industrial Products industry, which is above the industry midpoint. Overall, HLE Glascoat has a GF Score™ of 92/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does HLE Glascoat's Return-on-Tangible-Asset compare to GEV and ETN?
According to the Industrial Products industry distribution chart, HLE Glascoat ranks #1369 out of 3076 companies for Return-on-Tangible-Asset. This puts HLE Glascoat in the upper half of its industry. The industry median Return-on-Tangible-Asset is 3.32. HLE Glascoat's value of 6.13% is 84.9% above this benchmark. Historically, HLE Glascoat's own Return-on-Tangible-Asset has ranged from 3.13 to 14.86 over the past decade. While the company's 10-year median is 7.22 vs. the industry median of 3.32, HLE Glascoat has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for an Industrial Products company?
The median Return-on-Tangible-Asset among Industrial Products companies is 3.32, based on 3,076 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. HLE Glascoat's current Return-on-Tangible-Asset of 6.13% is 84.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on HLE Glascoat and its competitors. For the Industrial Products industry, the median Return-on-Tangible-Asset is 3.32 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. HLE Glascoat's current Return-on-Tangible-Asset is 6.13%, which is 15% below median its own 10-year median of 7.22. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is HLE Glascoat stock overvalued right now?
Based on GuruFocus' analysis, HLE Glascoat (NSE:HLEGLAS) is currently considered Significantly Undervalued. The stock's GF Value™ is ₹622.20, compared to a current price of ₹379.60 — trading 39% below its estimated fair value. The current Return-on-Tangible-Asset is 6.13%, which is 15% below median its 10-year median of 7.22 and 84.9% above the Industrial Products industry median of 3.32. HLE Glascoat's overall GF Score™ is 92/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For HLE Glascoat (NSE:HLEGLAS), the current Return-on-Tangible-Asset is 6.13% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is HLE Glascoat (NSE:HLEGLAS) Overvalued in 2026?
Based on GuruFocus' analysis, HLE Glascoat stock appears to be undervalued.
The current stock price of ₹379.60 is trading 39% below its estimated GF Value™ of ₹622.20.
GuruFocus considers HLE Glascoat to be Significantly Undervalued.
Key valuation signals for NSE:HLEGLAS:
Return-on-Tangible-Asset: 6.13% (15% below median its 10-year median of 7.22)
GF Value™: ₹622.20 vs. price of ₹379.60 (39% below fair value)
Industry Position: 84.9% above the Industrial Products median (#1369 of 3076)
No single metric tells the full story. See the NSE:HLEGLAS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
HLE Glascoat Ltd is a process equipment manufacturer and a solution provider to the chemical and pharmaceutical industries. The company mainly manufactures filtration, glass-lined, and drying equipment. Its product portfolio comprises reactors, receivers, storage tanks, columns, agitators, agitated filters and dryers, rotary vacuum paddle dryers, other chemical process equipment, and related spares and accessories. The company's operating segments are: Filtration, drying and other equipment; Glass-lined equipment; and Heat transfer equipment. Maximum revenue is generated from its glass-lined equipment business. Geographically, the company generates maximum revenue from its business in India, and also exports its products to other markets.
92GF Score
Get the complete analysis for NSE:HLEGLAS
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NSE:HLEGLAS has been successfully added to your 
