Nitiraj Engineers (NSE:NITIRAJ) ROCE % : 16.08% (As of Dec. 2023)

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What is Nitiraj Engineers 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. Nitiraj Engineers's annualized ROCE % for the quarter that ended in Dec. 2023 was 16.08%.

Nitiraj Engineers ROCE % Historical Data

The historical data trend for Nitiraj Engineers'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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Nitiraj Engineers ROCE % Chart

Nitiraj Engineers Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

ROCE %

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13.34

5.88

7.17

-6.04

0.23

Nitiraj Engineers Quarterly Data
	Mar18	Sep18	Mar19	Sep19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROCE %	Get a 7-Day Free Trial															0.93	1.13	7.10	11.24	16.08

Nitiraj Engineers ROCE % Calculation

Nitiraj Engineers'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 )
	=	1.604	/	( ( (772.263 - 87.637)	+	(798.245 - 112.981) )	/ 2 )
	=	1.604	/	( (684.626	+	685.264)	/ 2 )
	=	1.604	/	684.945
	=	0.23 %

Nitiraj Engineers's ROCE % of for the quarter that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	115.008	/	( ( (779.544 - 64.489)	+	(0 - 0) )	/ 1 )
	=	115.008	/	( ( 715.055	+	0 )	/ 1 )
	=	115.008	/	715.055
	=	16.08 %

(1) Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

Nitiraj Engineers (NSE:NITIRAJ) 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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Nitiraj Engineers (NSE:NITIRAJ) Business Description

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GURUFOCUS.COM » STOCK LIST » Technology » Hardware » Nitiraj Engineers Ltd (NSE:NITIRAJ) » Definitions » ROCE %

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Address

Plot NO J25, J26,MIDC Awadhan,, Dhule, MH, IND, 424006

Website

https://www.nitiraj.net

Nitiraj Engineers Ltd offers measure and counting devices in India. It operates in five broad segments i.e., Electronic Weighing Scales and Systems, Electronic Currency Counting Machines, and Digital Fare Meters, Home and Hotel Automation, and Mechanical Scales. The company generates maximum revenue from the Electronic Weighing Scales and Systems segment. Its diverse product portfolio caters to various sectors such as industrial, commercial, jewellery, healthcare, household, automobile, and home and hotel. Geographically it derives a majority of its revenue from India.

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