AZREF (Azure Power Global) ROCE %: 5.98% (As of Mar. 2024)


AZREF Azure Power Global Ltd AZREF
12 GF Score
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What is Azure Power Global ROCE %?

Azure Power Global AZREF 12 ROCE % is 5.98% as of Mar. 2024. GuruFocus rates AZREF with a GF Score™ of 12/100.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Azure Power Global's annualized ROCE % for the quarter that ended in Mar. 2024 was 5.98%.

Azure Power Global  (OTCPK:AZREF) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Azure Power Global ROCE % Related Terms

Azure Power Global ROCE % Historical Data

* Premium members only.

The historical data trend for Azure Power Global's ROCE % 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.

Azure Power Global ROCE % Chart

Azure Power Global Annual Data
Trend Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24
ROCE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.24 3.67 5.96 5.85 5.98

Azure Power Global Semi-Annual Data
Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24
ROCE % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only 5.24 3.67 5.96 5.85 5.98
AZREF
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Azure Power Global Ltd AZREF
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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Azure Power Global ROCE % Calculation

Azure Power Global's annualized ROCE % for the fiscal year that ended in Mar. 2024 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Mar. 2024 )  (A: Mar. 2023 )(A: Mar. 2024 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Mar. 2024 )  (A: Mar. 2023 )(A: Mar. 2024 )
=104.539/( ( (2316.082 - 318.465) + (2167.357 - 669.153) )/ 2 )
=104.539/( (1997.617+1498.204)/ 2 )
=104.539/1747.9105
=5.98 %

Azure Power Global's ROCE % of for the quarter that ended in Mar. 2024 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Mar. 2024 )  (Q: Mar. 2023 )(Q: Mar. 2024 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Mar. 2024 )  (Q: Mar. 2023 )(Q: Mar. 2024 )
=104.539/( ( (2316.082 - 318.465) + (2167.357 - 669.153) )/ 2 )
=104.539/( ( 1997.617 + 1498.204 )/ 2 )
=104.539/1747.9105
=5.98 %

(1) Note: The EBIT data used here is one times the annual (Mar. 2024) 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.

Frequently Asked Questions Learn more about ROCE % →
What does a ROCE % of 5.98% mean?
Azure Power Global (AZREF) has a ROCE % of 5.98% as of Mar. 2024.
Is Azure Power Global's ROCE % too high?
Azure Power Global's current ROCE % is 5.98%. The Utilities - Independent Power Producers industry median ROCE % is 4.62. Azure Power Global's value of 5.98% is 29.4% above this industry median. Overall, Azure Power Global has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Azure Power Global's ROCE % compare to SAFX and VGAS?
Azure Power Global's ROCE % of 5.98% can be compared against companies in the Utilities - Independent Power Producers industry. The industry median ROCE % is 4.62. Azure Power Global's value of 5.98% is 29.4% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROCE % for an Utilities - Independent Power Producers company?
The median ROCE % among Utilities - Independent Power Producers companies is 4.62, based on 437 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Azure Power Global's current ROCE % of 5.98% is 29.4% 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 ROCE % mean?
A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Utilities - Independent Power Producers industry, the median ROCE % is 4.62 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Azure Power Global's current ROCE % is 5.98%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Azure Power Global stock overvalued right now?
Azure Power Global (AZREF) has a current ROCE % of 5.98%. The current ROCE % is 5.98% and 29.4% above the Utilities - Independent Power Producers industry median of 4.62. Azure Power Global's overall GF Score™ is 12/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROCE % calculated?
ROCE % is calculated from a company's financial statements. For Azure Power Global (AZREF), the current ROCE % is 5.98% as of Mar. 2024. 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.

Azure Power Global Business Description

Address Phase II, 8th Floor, Tower A, DLF Infinity, Cyber City, Gurugram, HR, IND, 122002
Azure Power Global Ltd is a utility-scale renewable energy project developer and operator. It is engaged in the development, construction, ownership, operation, maintenance, and management of renewable energy assets based on long-term contracts (Power Purchase Agreements or PPA) with Indian Government energy distribution companies, as well as other Indian non-governmental energy distribution companies and commercial customers.
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ROCE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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