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Harsha Engineers InternationalNSE:HARSHA +0.50%86 ROC (Joel Greenblatt) % is 23.28% as of Mar. 2026, which is 31% above its 10-year median of 17.75. GuruFocus rates NSE:HARSHA with a GF Score™ of 86/100 and a GF Value™ of ₹502.75 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 3,064 Industrial Products companies, Harsha Engineers International ranks better than 66.32% on this metric.
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. Harsha Engineers International's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 23.28%.
The historical rank and industry rank for Harsha Engineers International's ROC (Joel Greenblatt) % or its related term are showing as below:
NSE:HARSHA'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 9.3 Med: 17.75 Max: 22.19
Current: 20.3
During the past 7 years, Harsha Engineers International's highest ROC (Joel Greenblatt) % was 22.19%. The lowest was 9.30%. And the median was 17.75%.
NSE:HARSHA's ROC (Joel Greenblatt) % is ranked better than 66.32% of 3064
companies
in the Industrial Products industry
Industry Median: 11.725
vs NSE:HARSHA: 20.30
Harsha Engineers International (NSE:HARSHA) 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.
* 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.
Harsha Engineers International ROC (Joel Greenblatt) % Chart
NSE:HARSHA vs SNA, RBC, LECO: ROC (Joel Greenblatt) % Comparison
For the Tools & Accessories subindustry, Harsha Engineers International'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.
Harsha Engineers International ROC (Joel Greenblatt) % vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Harsha Engineers International's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Harsha Engineers International's ROC (Joel Greenblatt) % falls into.
Harsha Engineers International 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 23.28% mean?
Harsha Engineers International (NSE:HARSHA) has a ROC (Joel Greenblatt) % of 23.28% 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 Harsha Engineers International and its competitors. This is 31% above median its historical median of 17.75. Over the past decade, Harsha Engineers International's ROC (Joel Greenblatt) % has ranged from 9.30 to 22.19. According to the industry distribution chart, Harsha Engineers International ranks #1032 out of 3064 companies in the Industrial Products industry, placing it in the top 33.7%.
Is Harsha Engineers International's ROC (Joel Greenblatt) % too high?
Harsha Engineers International's current ROC (Joel Greenblatt) % of 23.28% is 31% above median its 10-year median of 17.75. Over the past 10 years, this metric has ranged from a low of 9.30 to a high of 22.19. The Industrial Products industry median ROC (Joel Greenblatt) % is 11.73. Harsha Engineers International's value of 23.28% is 98.6% above this industry median. Based on the distribution chart, Harsha Engineers International ranks #1032 out of 3064 companies in the Industrial Products industry, which is above the industry midpoint. Overall, Harsha Engineers International has a GF Score™ of 86/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Harsha Engineers International's ROC (Joel Greenblatt) % compare to SNA and RBC?
According to the Industrial Products industry distribution chart, Harsha Engineers International ranks #1032 out of 3064 companies for ROC (Joel Greenblatt) %. This puts Harsha Engineers International in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 11.73. Harsha Engineers International's value of 23.28% is 98.6% above this benchmark. Historically, Harsha Engineers International's own ROC (Joel Greenblatt) % has ranged from 9.30 to 22.19 over the past decade. While the company's 10-year median is 17.75 vs. the industry median of 11.73, Harsha Engineers International 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 an Industrial Products company?
The median ROC (Joel Greenblatt) % among Industrial Products companies is 11.73, based on 3,064 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. Harsha Engineers International's current ROC (Joel Greenblatt) % of 23.28% is 98.6% 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 Harsha Engineers International and its competitors. For the Industrial Products industry, the median ROC (Joel Greenblatt) % is 11.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Harsha Engineers International's current ROC (Joel Greenblatt) % is 23.28%, which is 31% above median its own 10-year median of 17.75. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Harsha Engineers International stock overvalued right now?
Based on GuruFocus' analysis, Harsha Engineers International (NSE:HARSHA) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹502.75, compared to a current price of ₹405.65 — trading 19.3% below its estimated fair value. The current ROC (Joel Greenblatt) % is 23.28%, which is 31% above median its 10-year median of 17.75 and 98.6% above the Industrial Products industry median of 11.73. Harsha Engineers International's overall GF Score™ is 86/100 with 4 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 Harsha Engineers International (NSE:HARSHA), the current ROC (Joel Greenblatt) % is 23.28% 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 Harsha Engineers International (NSE:HARSHA) Overvalued in 2026?
Based on GuruFocus' analysis, Harsha Engineers International stock appears to be undervalued.
The current stock price of ₹405.65 is trading 19.3% below its estimated GF Value™ of ₹502.75.
GuruFocus considers Harsha Engineers International to be Modestly Undervalued.
Key valuation signals for NSE:HARSHA:
ROC (Joel Greenblatt) %: 23.28% (31% above median its 10-year median of 17.75)
GF Value™: ₹502.75 vs. price of ₹405.65 (19.3% below fair value)
Industry Position: 98.6% above the Industrial Products median (#1032 of 3064)
No single metric tells the full story. See the NSE:HARSHA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Harsha Engineers International Business Description
Harsha Engineers International Ltd is a manufacturer of precision bearing cages. The company supplies its products to customers covering five continents such as North America, Europe, Asia, South America, and Africa. It comprises two segments: Engineering business, under which the company manufactures bearing cages (in brass, steel, and polyamide materials), complex and specialized precision stamped components, welded assemblies and brass castings and cages & bronze bushings: and Solar EPC business, under which the company provide complete comprehensive turnkey solutions to all solar photovoltaic requirements and provides operations and maintenance services in the solar sector.
86GF Score
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