Alpex Solar (NSE:ALPEXSOLAR) ROCE % : 50.46% (As of Sep. 2023)

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What is Alpex Solar ROCE %?

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. Alpex Solar's annualized ROCE % for the quarter that ended in Sep. 2023 was 50.46%.

Alpex Solar ROCE % Historical Data

The historical data trend for Alpex Solar'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.

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Alpex Solar ROCE % Chart

Alpex Solar Annual Data

Trend

Mar21

Mar22

Mar23

ROCE %

13.11

7.01

17.68

Alpex Solar Semi-Annual Data
	Mar21	Mar22	Mar23	Sep23
ROCE %	-	-	-	50.46

Alpex Solar ROCE % Calculation

Alpex Solar's annualized ROCE % for the fiscal year that ended in Mar. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Mar. 2023 )		(A: Mar. 2022 )		(A: Mar. 2023 )
	=	89.438	/	( ( (1000.376 - 494.477)	+	(1255.963 - 750.139) )	/ 2 )
	=	89.438	/	( (505.899	+	505.824)	/ 2 )
	=	89.438	/	505.8615
	=	17.68 %

Alpex Solar's ROCE % of for the quarter that ended in Sep. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Sep. 2023 )		(Q: Mar. 2023 )		(Q: Sep. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Sep. 2023 )		(Q: Mar. 2023 )		(Q: Sep. 2023 )
	=	258.982	/	( ( (1255.963 - 750.139)	+	(1418.847 - 898.106) )	/ 2 )
	=	258.982	/	( ( 505.824	+	520.741 )	/ 2 )
	=	258.982	/	513.2825
	=	50.46 %

(1) Note: The EBIT data used here is two times the semi-annual (Sep. 2023) EBIT data.

Alpex Solar (NSE:ALPEXSOLAR) 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.

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Alpex Solar Business Description

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Alpex Solar Ltd is a solar photovoltaic (PV) module manufacturer in India. Its PV modules are manufactured using both monocrystalline and polycrystalline cell technologies. Company portfolio of solar energy products consists of bifacial, mono perc, Halfcut solar PV modules and also provide integrated solar energy solutions, including engineering, procurement, construction (EPC) of AC/DC Solar Pumps in both Surface and Submersible categories.

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