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Hi-Tech PipesNSE:HITECH +2.30%87 ROC (Joel Greenblatt) % is 10.67% as of Mar. 2026, which is 9% below its 10-year median of 11.71. GuruFocus rates NSE:HITECH with a GF Score™ of 87/100 and a GF Value™ of ₹129.68 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 632 Steel companies, Hi-Tech Pipes ranks better than 62.5% 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. Hi-Tech Pipes's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 10.67%.
The historical rank and industry rank for Hi-Tech Pipes's ROC (Joel Greenblatt) % or its related term are showing as below:
NSE:HITECH'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 10.3 Med: 11.71 Max: 16.99
Current: 10.6
During the past 12 years, Hi-Tech Pipes's highest ROC (Joel Greenblatt) % was 16.99%. The lowest was 10.30%. And the median was 11.71%.
NSE:HITECH's ROC (Joel Greenblatt) % is ranked better than 62.5% of 632
companies
in the Steel industry
Industry Median: 7.14
vs NSE:HITECH: 10.60
Hi-Tech Pipes's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -3.60% per year.
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.
Hi-Tech Pipes ROC (Joel Greenblatt) % Related Terms
Hi-Tech Pipes ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Hi-Tech Pipes'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.
NSE:HITECH vs NUE, STLD, RS: ROC (Joel Greenblatt) % Comparison
For the Steel subindustry, Hi-Tech Pipes'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.
Hi-Tech Pipes ROC (Joel Greenblatt) % vs Steel Industry
For the Steel industry and Basic Materials sector, Hi-Tech Pipes's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Hi-Tech Pipes'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 (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 10.67% mean?
Hi-Tech Pipes (NSE:HITECH) has a ROC (Joel Greenblatt) % of 10.67% 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 Hi-Tech Pipes and its competitors. This is near median its historical median of 11.71. Over the past decade, Hi-Tech Pipes' ROC (Joel Greenblatt) % has ranged from 10.30 to 16.99. According to the industry distribution chart, Hi-Tech Pipes ranks #237 out of 632 companies in the Steel industry, placing it in the top 37.5%.
Is Hi-Tech Pipes' ROC (Joel Greenblatt) % too high?
Hi-Tech Pipes' current ROC (Joel Greenblatt) % of 10.67% is near median its 10-year median of 11.71. Over the past 10 years, this metric has ranged from a low of 10.30 to a high of 16.99. The Steel industry median ROC (Joel Greenblatt) % is 7.14. Hi-Tech Pipes' value of 10.67% is 49.4% above this industry median. Based on the distribution chart, Hi-Tech Pipes ranks #237 out of 632 companies in the Steel industry, which is above the industry midpoint. Overall, Hi-Tech Pipes has a GF Score™ of 87/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Hi-Tech Pipes' ROC (Joel Greenblatt) % compare to NUE and STLD?
According to the Steel industry distribution chart, Hi-Tech Pipes ranks #237 out of 632 companies for ROC (Joel Greenblatt) %. This puts Hi-Tech Pipes in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 7.14. Hi-Tech Pipes' value of 10.67% is 49.4% above this benchmark. Historically, Hi-Tech Pipes' own ROC (Joel Greenblatt) % has ranged from 10.30 to 16.99 over the past decade. While the company's 10-year median is 11.71 vs. the industry median of 7.14, Hi-Tech Pipes 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 7.14, 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. Hi-Tech Pipes's current ROC (Joel Greenblatt) % of 10.67% is 49.4% 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 Hi-Tech Pipes and its competitors. For the Steel industry, the median ROC (Joel Greenblatt) % is 7.14 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hi-Tech Pipes's current ROC (Joel Greenblatt) % is 10.67%, which is near median its own 10-year median of 11.71. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hi-Tech Pipes stock overvalued right now?
Based on GuruFocus' analysis, Hi-Tech Pipes (NSE:HITECH) is currently considered Possible Value Trap. The stock's GF Value™ is ₹129.68, compared to a current price of ₹86.74 — trading 33.1% below its estimated fair value. The current ROC (Joel Greenblatt) % is 10.67%, which is near median its 10-year median of 11.71 and 49.4% above the Steel industry median of 7.14. Hi-Tech Pipes' overall GF Score™ is 87/100 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 Hi-Tech Pipes (NSE:HITECH), the current ROC (Joel Greenblatt) % is 10.67% 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 Hi-Tech Pipes (NSE:HITECH) Overvalued in 2026?
Based on GuruFocus' analysis, Hi-Tech Pipes stock appears to be undervalued.
The current stock price of ₹86.74 is trading 33.1% below its estimated GF Value™ of ₹129.68.
GuruFocus considers Hi-Tech Pipes to be Possible Value Trap.
Key valuation signals for NSE:HITECH:
ROC (Joel Greenblatt) %: 10.67% (near median its 10-year median of 11.71)
GF Value™: ₹129.68 vs. price of ₹86.74 (33.1% below fair value)
Industry Position: 49.4% above the Steel median (#237 of 632)
No single metric tells the full story. See the NSE:HITECH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hi-Tech Pipes Ltd manufactures and markets a wide range of steel tubes used in industries like infrastructure, telecom, defense, power distribution, railways, airports, construction, real estate, and automotive. Its products include Black Steel Tubes, Rectangular and Hollow sections, Galvanised Steel Tubes, Metal Beam Highway Crash Barriers, Cold Rolling Coils, Cold Formed Sections, Black Hollow Section and Round Pipes, Galvanized Pipes, Pre-Galvanized Pipes, and Cold Rolled Coils. The Indian steel pipes and tubes industry includes segments such as seamless, ERW, LSAW, HSAW, galvanized iron, ductile iron, and black steel pipes, which serve various applications ranging from high-pressure oil and gas pipelines to water supply and general engineering purposes.
87GF Score
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