Innovative Tyres & Tubes (NSE:INNOVATIVE) ROCE % : 0.00% (As of Sep. 2023)

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What is Innovative Tyres & Tubes 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. Innovative Tyres & Tubes's annualized ROCE % for the quarter that ended in Sep. 2023 was 0.00%.

Innovative Tyres & Tubes ROCE % Historical Data

The historical data trend for Innovative Tyres & Tubes'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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Innovative Tyres & Tubes ROCE % Chart

Innovative Tyres & Tubes Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

ROCE %

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1.69

-6.02

-6.31

-112.26

Innovative Tyres & Tubes Semi-Annual Data
	Mar13	Mar14	Mar15	Mar16	Mar17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23
ROCE %	Get a 7-Day Free Trial												-31.21	-146.19	-79.41	-	-

Innovative Tyres & Tubes ROCE % Calculation

Innovative Tyres & Tubes'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 )
	=	-614.083	/	( ( (976.103 - 804.28)	+	(360.349 - 802.564) )	/ 2 )
	=	-614.083	/	( (171.823	+	-442.215)	/ 2 )
	=	-614.083	/	-135.196
	=	454.22 %

Innovative Tyres & Tubes'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 )
	=	695.828	/	( ( (360.349 - 802.564)	+	(342.164 - 327.976) )	/ 2 )
	=	695.828	/	( ( -442.215	+	14.188 )	/ 2 )
	=	695.828	/	-214.0135
	=	0 %

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

Innovative Tyres & Tubes (NSE:INNOVATIVE) 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.

Innovative Tyres & Tubes ROCE % Related Terms

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Innovative Tyres & Tubes (NSE:INNOVATIVE) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Innovative Tyres & Tubes Ltd (NSE:INNOVATIVE) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

1201, 1202, 1203 GIDC Halol, Panchmahal, Halol, GJ, IND, 389350

Website

http://www.innovativetyres.com

Innovative Tyres & Tubes Ltd is engaged in the manufacturing and exporting of tyres and tubes in India. Its products include motorcycle and scooter tyres, truck and bus tyres, special-purpose tyres. The firm offers products in the Truck / Bus, Agricultural and OTR and Motorcycle / 3-wheeler segments. It derives majority of its geographical revenues from India.

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