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.
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. Mughal Iron & Steel Industries's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 9.44%.
The historical rank and industry rank for Mughal Iron & Steel Industries's ROC (Joel Greenblatt) % or its related term are showing as below:
KAR:MUGHAL'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 9.39 Med: 15.91 Max: 21.32
Current: 13.59
During the past 12 years, Mughal Iron & Steel Industries's highest ROC (Joel Greenblatt) % was 21.32%. The lowest was 9.39%. And the median was 15.91%.
KAR:MUGHAL's ROC (Joel Greenblatt) % is ranked better than 71.2% of 632
companies
in the Steel industry
Industry Median: 7.095
vs KAR:MUGHAL: 13.59
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.
* 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.
Mughal Iron & Steel Industries ROC (Joel Greenblatt) % Chart
KAR:MUGHAL vs NUE, STLD, RS: ROC (Joel Greenblatt) % Comparison
For the Steel subindustry, Mughal Iron & Steel Industries'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.
Mughal Iron & Steel Industries ROC (Joel Greenblatt) % vs Steel Industry
For the Steel industry and Basic Materials sector, Mughal Iron & Steel Industries's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Mughal Iron & Steel Industries's ROC (Joel Greenblatt) % falls into.
Mughal Iron & Steel Industries ROC (Joel Greenblatt) % Calculation
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 (Mar. 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 9.44% mean?
Mughal Iron & Steel Industries (KAR:MUGHAL) has a ROC (Joel Greenblatt) % of 9.44% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Mughal Iron & Steel Industries and its competitors. This is 41% below median its historical median of 15.91. Over the past decade, Mughal Iron & Steel Industries' ROC (Joel Greenblatt) % has ranged from 9.39 to 21.32. According to the industry distribution chart, Mughal Iron & Steel Industries ranks #182 out of 632 companies in the Steel industry, placing it in the top 28.8%.
Is Mughal Iron & Steel Industries' ROC (Joel Greenblatt) % too high?
Mughal Iron & Steel Industries' current ROC (Joel Greenblatt) % of 9.44% is 41% below median its 10-year median of 15.91. Over the past 10 years, this metric has ranged from a low of 9.39 to a high of 21.32. The Steel industry median ROC (Joel Greenblatt) % is 7.10. Mughal Iron & Steel Industries' value of 9.44% is 33.1% above this industry median. Based on the distribution chart, Mughal Iron & Steel Industries ranks #182 out of 632 companies in the Steel industry, which is above the industry midpoint. Overall, Mughal Iron & Steel Industries has a GF Score™ of 91/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Mughal Iron & Steel Industries' ROC (Joel Greenblatt) % compare to NUE and STLD?
According to the Steel industry distribution chart, Mughal Iron & Steel Industries ranks #182 out of 632 companies for ROC (Joel Greenblatt) %. This puts Mughal Iron & Steel Industries in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 7.10. Mughal Iron & Steel Industries' value of 9.44% is 33.1% above this benchmark. Historically, Mughal Iron & Steel Industries' own ROC (Joel Greenblatt) % has ranged from 9.39 to 21.32 over the past decade. While the company's 10-year median is 15.91 vs. the industry median of 7.10, Mughal Iron & Steel Industries 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 ROC (Joel Greenblatt) % for a Steel company?
The median ROC (Joel Greenblatt) % among Steel companies is 7.10, based on 632 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. Mughal Iron & Steel Industries's current ROC (Joel Greenblatt) % of 9.44% is 33.1% 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 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 Mughal Iron & Steel Industries and its competitors. For the Steel industry, the median ROC (Joel Greenblatt) % is 7.10 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mughal Iron & Steel Industries's current ROC (Joel Greenblatt) % is 9.44%, which is 41% below median its own 10-year median of 15.91. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mughal Iron & Steel Industries stock overvalued right now?
Based on GuruFocus' analysis, Mughal Iron & Steel Industries (KAR:MUGHAL) is currently considered Modestly Overvalued. The stock's GF Value™ is ₨70.58, compared to a current price of ₨79.80 — trading 13.1% above its estimated fair value. The current ROC (Joel Greenblatt) % is 9.44%, which is 41% below median its 10-year median of 15.91 and 33.1% above the Steel industry median of 7.10. Mughal Iron & Steel Industries' overall GF Score™ is 91/100 with 6 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 Mughal Iron & Steel Industries (KAR:MUGHAL), the current ROC (Joel Greenblatt) % is 9.44% 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 Mughal Iron & Steel Industries (KAR:MUGHAL) Overvalued in 2026?
Based on GuruFocus' analysis, Mughal Iron & Steel Industries stock appears to be overvalued.
The current stock price of ₨79.80 is trading 13.1% above its estimated GF Value™ of ₨70.58.
GuruFocus considers Mughal Iron & Steel Industries to be Modestly Overvalued.
Key valuation signals for KAR:MUGHAL:
ROC (Joel Greenblatt) %: 9.44% (41% below median its 10-year median of 15.91)
GF Value™: ₨70.58 vs. price of ₨79.80 (13.1% above fair value)
Industry Position: 33.1% above the Steel median (#182 of 632)
No single metric tells the full story. See the KAR:MUGHAL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mughal Iron & Steel Industries Business Description
Mughal Iron & Steel Industries Ltd is engaged in the manufacturing and trading of mild steel products. The operating segments of the company are Ferrous, Non-Ferrous, and the Energy segment. The company's main products involve Steel re-bars (G60 / Mughal Supreme), Girders, Billets, Copper ingots, and Copper granules.
91GF Score
Get the complete analysis for KAR:MUGHAL
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
KAR:MUGHAL has been successfully added to your 
