IRCON InternationalNSE:IRCON +1.56%83 ROC (Joel Greenblatt) % is 50.22% as of Mar. 2026, which is 81% below its 10-year median of 264.13. GuruFocus rates NSE:IRCON with a GF Score™ of 83/100 and a GF Value™ of ₹155.52 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 1,778 Construction companies, IRCON International ranks better than 73.68% 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. IRCON International's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 50.22%.
The historical rank and industry rank for IRCON International's ROC (Joel Greenblatt) % or its related term are showing as below:
NSE:IRCON'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 43.89 Med: 264.13 Max: 632.43
Current: 43.89
During the past 13 years, IRCON International's highest ROC (Joel Greenblatt) % was 632.43%. The lowest was 43.89%. And the median was 264.13%.
NSE:IRCON's ROC (Joel Greenblatt) % is ranked better than 73.68% of 1778
companies
in the Construction industry
Industry Median: 19.5
vs NSE:IRCON: 43.89
IRCON International's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -35.10% per year.
IRCON International (NSE:IRCON) 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.
IRCON International ROC (Joel Greenblatt) % Related Terms
IRCON International ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for IRCON International'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:IRCON vs PWR, FIX, EME: ROC (Joel Greenblatt) % Comparison
For the Engineering & Construction subindustry, IRCON 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.
IRCON International ROC (Joel Greenblatt) % vs Construction Industry
For the Construction industry and Industrials sector, IRCON International's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where IRCON International's ROC (Joel Greenblatt) % falls into.
IRCON 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 50.22% mean?
IRCON International (NSE:IRCON) has a ROC (Joel Greenblatt) % of 50.22% 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 IRCON International and its competitors. This is 81% below median its historical median of 264.13. Over the past decade, IRCON International's ROC (Joel Greenblatt) % has ranged from 43.89 to 632.43. According to the industry distribution chart, IRCON International ranks #468 out of 1778 companies in the Construction industry, placing it in the top 26.3%.
Is IRCON International's ROC (Joel Greenblatt) % too high?
IRCON International's current ROC (Joel Greenblatt) % of 50.22% is 81% below median its 10-year median of 264.13. Over the past 10 years, this metric has ranged from a low of 43.89 to a high of 632.43. The Construction industry median ROC (Joel Greenblatt) % is 19.50. IRCON International's value of 50.22% is 157.5% above this industry median. Based on the distribution chart, IRCON International ranks #468 out of 1778 companies in the Construction industry, which is above the industry midpoint. Overall, IRCON International has a GF Score™ of 83/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does IRCON International's ROC (Joel Greenblatt) % compare to PWR and FIX?
According to the Construction industry distribution chart, IRCON International ranks #468 out of 1778 companies for ROC (Joel Greenblatt) %. This puts IRCON International in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 19.50. IRCON International's value of 50.22% is 157.5% above this benchmark. Historically, IRCON International's own ROC (Joel Greenblatt) % has ranged from 43.89 to 632.43 over the past decade. While the company's 10-year median is 264.13 vs. the industry median of 19.50, IRCON 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 a Construction company?
The median ROC (Joel Greenblatt) % among Construction companies is 19.50, based on 1,778 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. IRCON International's current ROC (Joel Greenblatt) % of 50.22% is 157.5% 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 IRCON International and its competitors. For the Construction industry, the median ROC (Joel Greenblatt) % is 19.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. IRCON International's current ROC (Joel Greenblatt) % is 50.22%, which is 81% below median its own 10-year median of 264.13. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is IRCON International stock overvalued right now?
Based on GuruFocus' analysis, IRCON International (NSE:IRCON) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹155.52, compared to a current price of ₹131.36 — trading 15.5% below its estimated fair value. The current ROC (Joel Greenblatt) % is 50.22%, which is 81% below median its 10-year median of 264.13 and 157.5% above the Construction industry median of 19.50. IRCON International's overall GF Score™ is 83/100 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 IRCON International (NSE:IRCON), the current ROC (Joel Greenblatt) % is 50.22% 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 IRCON International (NSE:IRCON) Overvalued in 2026?
Based on GuruFocus' analysis, IRCON International stock appears to be undervalued.
The current stock price of ₹131.36 is trading 15.5% below its estimated GF Value™ of ₹155.52.
GuruFocus considers IRCON International to be Modestly Undervalued.
Key valuation signals for NSE:IRCON:
ROC (Joel Greenblatt) %: 50.22% (81% below median its 10-year median of 264.13)
GF Value™: ₹155.52 vs. price of ₹131.36 (15.5% below fair value)
Industry Position: 157.5% above the Construction median (#468 of 1778)
No single metric tells the full story. See the NSE:IRCON stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
IRCON International Ltd is an India-based integrated engineering and construction company having expertise in infrastructure sectors, including railways, highways, bridges, flyovers, tunnels, metro, railway electrification, EHV sub-stations, electrical and mechanical works, commercial and residential buildings, railway production units, and others. It offers Engineering Procurement and Construction (EPC) services on a lump sum, turnkey, EPC, and item-rate basis for various infrastructure projects. Its geographic segments are International and Domestic, in which it derives a majority of its revenue from India.
83GF Score
Get the complete analysis for NSE:IRCON
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
NSE:IRCON has been successfully added to your 
