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Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Shah Alloys's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was -15.05%.
The historical rank and industry rank for Shah Alloys's ROC (Joel Greenblatt) % or its related term are showing as below:
BOM:513436'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -29.47 Med: 29.13 Max: 233.64
Current: 111.48
During the past 13 years, Shah Alloys's highest ROC (Joel Greenblatt) % was 233.64%. The lowest was -29.47%. And the median was 29.13%.
BOM:513436's ROC (Joel Greenblatt) % is ranked better than 97.13% of 628
companies
in the Steel industry
Industry Median: 8.42
vs BOM:513436: 111.48
Shah Alloys's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
Shah Alloys (BOM:513436) ROC (Joel Greenblatt) % Explanation
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
Shah Alloys ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Shah Alloys's ROC (Joel Greenblatt) % 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.
BOM:513436 vs NUE, STLD, RS: ROC (Joel Greenblatt) % Comparison
For the Steel subindustry, Shah Alloys's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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.
Shah Alloys ROC (Joel Greenblatt) % vs Steel Industry
For the Steel industry and Basic Materials sector, Shah Alloys's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Shah Alloys's ROC (Joel Greenblatt) % falls into.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Jun. 2026) EBIT data.
* 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.
What does a ROC (Joel Greenblatt) % of -15.05% mean?
Shah Alloys (BOM:513436) has a ROC (Joel Greenblatt) % of -15.05% as of Jun. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Shah Alloys and its competitors. According to the industry distribution chart, Shah Alloys ranks #18 out of 628 companies in the Steel industry, placing it in the top 2.9%.
Is Shah Alloys' ROC (Joel Greenblatt) % too high?
Shah Alloys' current ROC (Joel Greenblatt) % is -15.05%. Based on the distribution chart, Shah Alloys ranks #18 out of 628 companies in the Steel industry, which is in the top quartile — a strong position relative to peers. Overall, Shah Alloys has a GF Score™ of 44/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Shah Alloys' ROC (Joel Greenblatt) % compare to NUE and STLD?
According to the Steel industry distribution chart, Shah Alloys ranks #18 out of 628 companies for ROC (Joel Greenblatt) %. This places Shah Alloys in the top 3% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 8.42. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for a Steel company?
The median ROC (Joel Greenblatt) % among Steel companies is 8.42, based on 628 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Shah Alloys and its competitors. For the Steel industry, the median ROC (Joel Greenblatt) % is 8.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Shah Alloys's current ROC (Joel Greenblatt) % is -15.05%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shah Alloys stock overvalued right now?
Based on GuruFocus' analysis, Shah Alloys (BOM:513436) is currently considered Significantly Overvalued. The stock's GF Value™ is ₹2.04, compared to a current price of ₹102.80 — trading 4939.2% above its estimated fair value. The current ROC (Joel Greenblatt) % is -15.05%. Shah Alloys' overall GF Score™ is 44/100 with 11 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Shah Alloys (BOM:513436), the current ROC (Joel Greenblatt) % is -15.05% as of Jun. 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 Shah Alloys (BOM:513436) Overvalued in 2026?
Based on GuruFocus' analysis, Shah Alloys stock appears to be overvalued.
The current stock price of ₹102.80 is trading 4939.2% above its estimated GF Value™ of ₹2.04.
GuruFocus considers Shah Alloys to be Significantly Overvalued.
Key valuation signals for BOM:513436:
ROC (Joel Greenblatt) %: -15.05%
GF Value™: ₹2.04 vs. price of ₹102.80 (4939.2% above fair value)
No single metric tells the full story. See the BOM:513436 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Shah Alloys Ltd manufactures and supplies steel in India. The company is engaged in the manufacturing of Stainless steel, alloy special steel, Carbon/mild steel, and Armour steel in Flat and long products. The product offered by the group includes hot rolled coils, hot rolled sheets, and plates, cold rolled coils and sheets, hot rolled round bars, hot rolled flat bars, angles, bright/peeled bars, beams, and angles. The firm generates a majority of its revenue from the sale of Iron and Steel products, which include Bars, Beams, Flat Plate coil, Slab, and Billets.
44GF Score
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ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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