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Ipca LaboratoriesNSE:IPCALAB +1.98%93 ROC (Joel Greenblatt) % is 19.57% as of Mar. 2026, which is 7% above its 10-year median of 18.25. GuruFocus rates NSE:IPCALAB with a GF Score™ of 93/100 and a GF Value™ of ₹1,603.76 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 983 Drug Manufacturers companies, Ipca Laboratories ranks better than 63.58% 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. Ipca Laboratories's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 19.57%.
The historical rank and industry rank for Ipca Laboratories's ROC (Joel Greenblatt) % or its related term are showing as below:
NSE:IPCALAB'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 9.82 Med: 18.25 Max: 37.95
Current: 19.81
During the past 13 years, Ipca Laboratories's highest ROC (Joel Greenblatt) % was 37.95%. The lowest was 9.82%. And the median was 18.25%.
NSE:IPCALAB's ROC (Joel Greenblatt) % is ranked better than 63.58% of 983
companies
in the Drug Manufacturers industry
Industry Median: 11.46
vs NSE:IPCALAB: 19.81
Ipca Laboratories's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -13.70% 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.
Ipca Laboratories ROC (Joel Greenblatt) % Related Terms
Ipca Laboratories ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Ipca Laboratories'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:IPCALAB vs ZTS, UTHR: ROC (Joel Greenblatt) % Comparison
For the Drug Manufacturers - Specialty & Generic subindustry, Ipca Laboratories'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.
Ipca Laboratories ROC (Joel Greenblatt) % vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Ipca Laboratories's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Ipca Laboratories'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 19.57% mean?
Ipca Laboratories (NSE:IPCALAB) has a ROC (Joel Greenblatt) % of 19.57% 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 Ipca Laboratories and its competitors. This is near median its historical median of 18.25. Over the past decade, Ipca Laboratories' ROC (Joel Greenblatt) % has ranged from 9.82 to 37.95. According to the industry distribution chart, Ipca Laboratories ranks #358 out of 983 companies in the Drug Manufacturers industry, placing it in the top 36.4%.
Is Ipca Laboratories' ROC (Joel Greenblatt) % too high?
Ipca Laboratories' current ROC (Joel Greenblatt) % of 19.57% is near median its 10-year median of 18.25. Over the past 10 years, this metric has ranged from a low of 9.82 to a high of 37.95. The Drug Manufacturers industry median ROC (Joel Greenblatt) % is 11.46. Ipca Laboratories' value of 19.57% is 70.8% above this industry median. Based on the distribution chart, Ipca Laboratories ranks #358 out of 983 companies in the Drug Manufacturers industry, which is above the industry midpoint. Overall, Ipca Laboratories has a GF Score™ of 93/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ipca Laboratories' ROC (Joel Greenblatt) % compare to ZTS and UTHR?
According to the Drug Manufacturers industry distribution chart, Ipca Laboratories ranks #358 out of 983 companies for ROC (Joel Greenblatt) %. This puts Ipca Laboratories in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 11.46. Ipca Laboratories' value of 19.57% is 70.8% above this benchmark. Historically, Ipca Laboratories' own ROC (Joel Greenblatt) % has ranged from 9.82 to 37.95 over the past decade. While the company's 10-year median is 18.25 vs. the industry median of 11.46, Ipca Laboratories 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 Drug Manufacturers company?
The median ROC (Joel Greenblatt) % among Drug Manufacturers companies is 11.46, based on 983 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. Ipca Laboratories's current ROC (Joel Greenblatt) % of 19.57% is 70.8% 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 Ipca Laboratories and its competitors. For the Drug Manufacturers industry, the median ROC (Joel Greenblatt) % is 11.46 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ipca Laboratories's current ROC (Joel Greenblatt) % is 19.57%, which is near median its own 10-year median of 18.25. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ipca Laboratories stock overvalued right now?
Based on GuruFocus' analysis, Ipca Laboratories (NSE:IPCALAB) is currently considered Modestly Overvalued. The stock's GF Value™ is ₹1,603.76, compared to a current price of ₹1,823.30 — trading 13.7% above its estimated fair value. The current ROC (Joel Greenblatt) % is 19.57%, which is near median its 10-year median of 18.25 and 70.8% above the Drug Manufacturers industry median of 11.46. Ipca Laboratories' overall GF Score™ is 93/100 with 5 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 Ipca Laboratories (NSE:IPCALAB), the current ROC (Joel Greenblatt) % is 19.57% 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 Ipca Laboratories (NSE:IPCALAB) Overvalued in 2026?
Based on GuruFocus' analysis, Ipca Laboratories stock appears to be overvalued.
The current stock price of ₹1,823.30 is trading 13.7% above its estimated GF Value™ of ₹1,603.76.
GuruFocus considers Ipca Laboratories to be Modestly Overvalued.
Key valuation signals for NSE:IPCALAB:
ROC (Joel Greenblatt) %: 19.57% (near median its 10-year median of 18.25)
GF Value™: ₹1,603.76 vs. price of ₹1,823.30 (13.7% above fair value)
Industry Position: 70.8% above the Drug Manufacturers median (#358 of 983)
No single metric tells the full story. See the NSE:IPCALAB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ipca Laboratories Ltd is a pharmaceutical company. The company's principal activity is the Development, Manufacturing, and Marketing of Pharmaceuticals Products. The company's API products include Atenolol (anti-hypertensive), Chloroquine Phosphate (anti-malarial), Chlorthalidone (diuretic), Furosemide (diuretic), Hydroxychloroquine Sulphate (DMARD), Losartan. The company has only one reportable primary business segment, pharmaceuticals.
93GF Score
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