Surani Steel Tubes (NSE:SURANI) ROCE % : 4.33% (As of Mar. 2024)

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What is Surani Steel 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. Surani Steel Tubes's annualized ROCE % for the quarter that ended in Mar. 2024 was 4.33%.

Surani Steel Tubes ROCE % Historical Data

The historical data trend for Surani Steel 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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Surani Steel Tubes ROCE % Chart

Surani Steel Tubes Annual Data

Trend

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

ROCE %

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-10.96

25.12

13.77

-1.53

1.27

Surani Steel Tubes Semi-Annual Data
	Mar14	Mar15	Mar16	Mar17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Mar22	Sep22	Mar23	Sep23	Mar24
ROCE %	Get a 7-Day Free Trial											-	-33.77	33.29	-4.33	4.33

Surani Steel Tubes ROCE % Calculation

Surani Steel Tubes'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 )
	=	7.116	/	( ( (413.871 - 179.485)	+	(1342.135 - 453.263) )	/ 2 )
	=	7.116	/	( (234.386	+	888.872)	/ 2 )
	=	7.116	/	561.629
	=	1.27 %

Surani Steel Tubes'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: Sep. 2023 )		(Q: Mar. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Mar. 2024 )		(Q: Sep. 2023 )		(Q: Mar. 2024 )
	=	35.784	/	( ( (766.034 - 3.97)	+	(1342.135 - 453.263) )	/ 2 )
	=	35.784	/	( ( 762.064	+	888.872 )	/ 2 )
	=	35.784	/	825.468
	=	4.33 %

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

Surani Steel Tubes (NSE:SURANI) 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.

Surani Steel Tubes ROCE % Related Terms

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Surani Steel Tubes (NSE:SURANI) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Surani Steel Tubes Ltd (NSE:SURANI) » Definitions » ROCE %

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Address

Bayad Road, Sr. No. 110,115, Opposite Vinayak TMT, Village Sampa, Taluka Dahegam, Gandhinagar, GJ, IND, 382315

Website

https://www.suranisteel.com

Surani Steel Tubes Ltd is engaged in manufacturing and supplying ERW pipes and steel tubes. The company operates a single segment named manufacturing ERW MS PIPES and trading of MS PIPE. The company's products include ERW Round Pipes and Tubes, Square and Rectangle Hollow Sections, MS Slit Coils and Strips, Hot Roll Coils, and Brochures. Geographically, it operates only in India.

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