Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Maharashtra SeamlessNSE:MAHSEAMLES -2.11%86 ROC (Joel Greenblatt) % is 37.91% as of Jun. 2026, which is 111% above its 10-year median of 17.93. GuruFocus rates NSE:MAHSEAMLES with a GF Score™ of 86/100 and a GF Value™ of ₹589.03 (Fairly Valued). The stock has 4 warning signs investors should review. Among 632 Steel companies, Maharashtra Seamless ranks better than 88.77% 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. Maharashtra Seamless's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 37.91%.
The historical rank and industry rank for Maharashtra Seamless's ROC (Joel Greenblatt) % or its related term are showing as below:
NSE:MAHSEAMLES'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 7.29 Med: 17.93 Max: 31.22
Current: 27.03
During the past 13 years, Maharashtra Seamless's highest ROC (Joel Greenblatt) % was 31.22%. The lowest was 7.29%. And the median was 17.93%.
NSE:MAHSEAMLES's ROC (Joel Greenblatt) % is ranked better than 88.77% of 632
companies
in the Steel industry
Industry Median: 7.345
vs NSE:MAHSEAMLES: 27.03
Maharashtra Seamless's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 26.00% 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.
Maharashtra Seamless ROC (Joel Greenblatt) % Related Terms
Maharashtra Seamless ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Maharashtra Seamless'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:MAHSEAMLES vs NUE, STLD, RS: ROC (Joel Greenblatt) % Comparison
For the Steel subindustry, Maharashtra Seamless'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.
Maharashtra Seamless ROC (Joel Greenblatt) % vs Steel Industry
For the Steel industry and Basic Materials sector, Maharashtra Seamless's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Maharashtra Seamless'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 (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 37.91% mean?
Maharashtra Seamless (NSE:MAHSEAMLES) has a ROC (Joel Greenblatt) % of 37.91% 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 Maharashtra Seamless and its competitors. This is 111% above median its historical median of 17.93. Over the past decade, Maharashtra Seamless' ROC (Joel Greenblatt) % has ranged from 7.29 to 31.22. According to the industry distribution chart, Maharashtra Seamless ranks #71 out of 632 companies in the Steel industry, placing it in the top 11.2%.
Is Maharashtra Seamless' ROC (Joel Greenblatt) % too high?
Maharashtra Seamless' current ROC (Joel Greenblatt) % of 37.91% is 111% above median its 10-year median of 17.93. Over the past 10 years, this metric has ranged from a low of 7.29 to a high of 31.22. The Steel industry median ROC (Joel Greenblatt) % is 7.35. Maharashtra Seamless' value of 37.91% is 416.1% above this industry median. Based on the distribution chart, Maharashtra Seamless ranks #71 out of 632 companies in the Steel industry, which is in the top quartile — a strong position relative to peers. Overall, Maharashtra Seamless has a GF Score™ of 86/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Maharashtra Seamless' ROC (Joel Greenblatt) % compare to NUE and STLD?
According to the Steel industry distribution chart, Maharashtra Seamless ranks #71 out of 632 companies for ROC (Joel Greenblatt) %. This places Maharashtra Seamless in the top 11% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 7.35. Maharashtra Seamless' value of 37.91% is 416.1% above this benchmark. Historically, Maharashtra Seamless' own ROC (Joel Greenblatt) % has ranged from 7.29 to 31.22 over the past decade. While the company's 10-year median is 17.93 vs. the industry median of 7.35, Maharashtra Seamless 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 7.35, 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. Maharashtra Seamless's current ROC (Joel Greenblatt) % of 37.91% is 416.1% 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 Maharashtra Seamless and its competitors. For the Steel industry, the median ROC (Joel Greenblatt) % is 7.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Maharashtra Seamless's current ROC (Joel Greenblatt) % is 37.91%, which is 111% above median its own 10-year median of 17.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Maharashtra Seamless stock overvalued right now?
Based on GuruFocus' analysis, Maharashtra Seamless (NSE:MAHSEAMLES) is currently considered Fairly Valued. The stock's GF Value™ is ₹589.03, compared to a current price of ₹595.00 — trading 1% above its estimated fair value. The current ROC (Joel Greenblatt) % is 37.91%, which is 111% above median its 10-year median of 17.93 and 416.1% above the Steel industry median of 7.35. Maharashtra Seamless' 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 Maharashtra Seamless (NSE:MAHSEAMLES), the current ROC (Joel Greenblatt) % is 37.91% 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 Maharashtra Seamless (NSE:MAHSEAMLES) Overvalued in 2026?
Based on GuruFocus' analysis, Maharashtra Seamless stock appears to be overvalued.
The current stock price of ₹595.00 is trading 1% above its estimated GF Value™ of ₹589.03.
GuruFocus considers Maharashtra Seamless to be Fairly Valued.
Key valuation signals for NSE:MAHSEAMLES:
ROC (Joel Greenblatt) %: 37.91% (111% above median its 10-year median of 17.93)
GF Value™: ₹589.03 vs. price of ₹595.00 (1% above fair value)
Industry Position: 416.1% above the Steel median (#71 of 632)
No single metric tells the full story. See the NSE:MAHSEAMLES stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Maharashtra Seamless Ltd is a steel pipe and tube manufacturer. The company's product portfolio consists of electric resistance welded pipes, which include black and galvanized pipes, and seamless pipes and tubes, which include hot finished, cold drawn, and pilgered pipes. These products are used in various applications and sectors like oil and gas, hydrocarbon, power, agriculture, housing, and infrastructure, among others. The company's operating segments consist of steel pipes and tubes, power-electricity, rig, and others. The majority of its revenue is derived from the steel pipes and tubes segment.
86GF Score
Get the complete analysis for NSE:MAHSEAMLES
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:MAHSEAMLES has been successfully added to your 
