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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. Gujarat Narmada Valley Fertilizers & Chemicals's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 37.59%.
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.
NSE:GNFC vs DOW: ROC (Joel Greenblatt) % Comparison
For the Chemicals subindustry, Gujarat Narmada Valley Fertilizers & Chemicals'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.
Gujarat Narmada Valley Fertilizers & Chemicals ROC (Joel Greenblatt) % vs Chemicals Industry
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 37.59% mean?
Gujarat Narmada Valley Fertilizers & Chemicals (NSE:GNFC) has a ROC (Joel Greenblatt) % of 37.59% 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 Gujarat Narmada Valley Fertilizers & Chemicals and its competitors. This is 127% above median its historical median of 16.56. Over the past decade, Gujarat Narmada Valley Fertilizers & Chemicals' ROC (Joel Greenblatt) % has ranged from 7.36 to 42.12. According to the industry distribution chart, Gujarat Narmada Valley Fertilizers & Chemicals ranks #246 out of 1607 companies in the Chemicals industry, placing it in the top 15.3%.
Is Gujarat Narmada Valley Fertilizers & Chemicals' ROC (Joel Greenblatt) % too high?
Gujarat Narmada Valley Fertilizers & Chemicals' current ROC (Joel Greenblatt) % of 37.59% is 127% above median its 10-year median of 16.56. Over the past 10 years, this metric has ranged from a low of 7.36 to a high of 42.12. The Chemicals industry median ROC (Joel Greenblatt) % is 10.42. Gujarat Narmada Valley Fertilizers & Chemicals' value of 37.59% is 260.7% above this industry median. Based on the distribution chart, Gujarat Narmada Valley Fertilizers & Chemicals ranks #246 out of 1607 companies in the Chemicals industry, which is in the top quartile — a strong position relative to peers. Overall, Gujarat Narmada Valley Fertilizers & Chemicals has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Gujarat Narmada Valley Fertilizers & Chemicals' ROC (Joel Greenblatt) % compare to DOW?
According to the Chemicals industry distribution chart, Gujarat Narmada Valley Fertilizers & Chemicals ranks #246 out of 1607 companies for ROC (Joel Greenblatt) %. This places Gujarat Narmada Valley Fertilizers & Chemicals in the top 15% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 10.42. Gujarat Narmada Valley Fertilizers & Chemicals' value of 37.59% is 260.7% above this benchmark. Historically, Gujarat Narmada Valley Fertilizers & Chemicals' own ROC (Joel Greenblatt) % has ranged from 7.36 to 42.12 over the past decade. While the company's 10-year median is 16.56 vs. the industry median of 10.42, Gujarat Narmada Valley Fertilizers & Chemicals 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 Chemicals company?
The median ROC (Joel Greenblatt) % among Chemicals companies is 10.42, based on 1,607 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. Gujarat Narmada Valley Fertilizers & Chemicals's current ROC (Joel Greenblatt) % of 37.59% is 260.7% 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 Gujarat Narmada Valley Fertilizers & Chemicals and its competitors. For the Chemicals industry, the median ROC (Joel Greenblatt) % is 10.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Gujarat Narmada Valley Fertilizers & Chemicals's current ROC (Joel Greenblatt) % is 37.59%, which is 127% above median its own 10-year median of 16.56. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Gujarat Narmada Valley Fertilizers & Chemicals stock overvalued right now?
Based on GuruFocus' analysis, Gujarat Narmada Valley Fertilizers & Chemicals (NSE:GNFC) is currently considered Fairly Valued. The stock's GF Value™ is ₹576.67, compared to a current price of ₹582.80 — trading 1.1% above its estimated fair value. The current ROC (Joel Greenblatt) % is 37.59%, which is 127% above median its 10-year median of 16.56 and 260.7% above the Chemicals industry median of 10.42. Gujarat Narmada Valley Fertilizers & Chemicals' overall GF Score™ is 77/100 with 9 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 Gujarat Narmada Valley Fertilizers & Chemicals (NSE:GNFC), the current ROC (Joel Greenblatt) % is 37.59% 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 Gujarat Narmada Valley Fertilizers & Chemicals (NSE:GNFC) Overvalued in 2026?
Based on GuruFocus' analysis, Gujarat Narmada Valley Fertilizers & Chemicals stock appears to be overvalued.
The current stock price of ₹582.80 is trading 1.1% above its estimated GF Value™ of ₹576.67.
GuruFocus considers Gujarat Narmada Valley Fertilizers & Chemicals to be Fairly Valued.
Key valuation signals for NSE:GNFC:
ROC (Joel Greenblatt) %: 37.59% (127% above median its 10-year median of 16.56)
GF Value™: ₹576.67 vs. price of ₹582.80 (1.1% above fair value)
Industry Position: 260.7% above the Chemicals median (#246 of 1607)
No single metric tells the full story. See the NSE:GNFC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Gujarat Narmada Valley Fertilizers & Chemicals Ltd, or GNFC, is a firm engaged in the manufacturing and selling of fertilizers, industrial chemical products and rendering Information Technology services. It operates in three business segments including fertilizer segment and chemicals segment and others. The company generates the majority of its revenues through the sale of chemicals.
77GF Score
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