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Munish ForgeNSE:MUNISH +4.97%13 3-Year ROIIC % is 9.82 as of Mar. 2026, which is 50% below its 10-year median of 19.69. GuruFocus rates NSE:MUNISH with a GF Score™ of 13/100. The stock has 4 warning signs investors should review. Among 2,929 Industrial Products companies, Munish Forge ranks better than 61.63% on this metric.
3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
Munish Forge's 3-Year ROIIC % for the quarter that ended in Mar. 2026 was 9.82%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Munish Forge's 3-Year ROIIC % or its related term are showing as below:
NSE:MUNISH's 3-Year ROIIC % is ranked better than 61.63% of 2929
companies
in the Industrial Products industry
Industry Median: 3.45
vs NSE:MUNISH: 9.82
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Munish Forge 3-Year ROIIC % Related Terms
Munish Forge 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Munish Forge's 3-Year ROIIC % 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.
Munish Forge 3-Year ROIIC % Chart
Munish Forge Annual Data
Trend
Mar22
Mar23
Mar24
Mar25
Mar26
3-Year ROIIC %
0.00
0.00
0.00
29.55
9.82
Munish Forge Semi-Annual Data
Mar22
Mar23
Mar24
Mar25
Mar26
3-Year ROIIC %
0.00
0.00
0.00
29.55
9.82
NSE:MUNISH vs CRS, ATI, MLI: 3-Year ROIIC % Comparison
For the Metal Fabrication subindustry, Munish Forge's 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Munish Forge 3-Year ROIIC % vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Munish Forge's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Munish Forge's 3-Year ROIIC % falls into.
* 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.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Munish Forge (NSE:MUNISH) has a 3-Year ROIIC % of 9.82 as of Mar. 2026. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Munish Forge and its competitors. This is 50% below median its historical median of 19.69. Over the past decade, Munish Forge's 3-Year ROIIC % has ranged from 9.82 to 29.55. According to the industry distribution chart, Munish Forge ranks #1124 out of 2929 companies in the Industrial Products industry, placing it in the top 38.4%.
Is Munish Forge's 3-Year ROIIC % too high?
Munish Forge's current 3-Year ROIIC % of 9.82 is 50% below median its 10-year median of 19.69. Over the past 10 years, this metric has ranged from a low of 9.82 to a high of 29.55. The Industrial Products industry median 3-Year ROIIC % is 3.45. Munish Forge's value of 9.82 is 184.6% above this industry median. Based on the distribution chart, Munish Forge ranks #1124 out of 2929 companies in the Industrial Products industry, which is above the industry midpoint. Overall, Munish Forge has a GF Score™ of 13/100, reflecting its overall financial health beyond just this single metric.
How does Munish Forge's 3-Year ROIIC % compare to CRS and ATI?
According to the Industrial Products industry distribution chart, Munish Forge ranks #1124 out of 2929 companies for 3-Year ROIIC %. This puts Munish Forge in the upper half of its industry. The industry median 3-Year ROIIC % is 3.45. Munish Forge's value of 9.82 is 184.6% above this benchmark. Historically, Munish Forge's own 3-Year ROIIC % has ranged from 9.82 to 29.55 over the past decade. While the company's 10-year median is 19.69 vs. the industry median of 3.45, Munish Forge has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good 3-Year ROIIC % for an Industrial Products company?
The median 3-Year ROIIC % among Industrial Products companies is 3.45, based on 2,929 companies in the industry. Companies in the top quartile (top 25%) have a 3-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Munish Forge's current 3-Year ROIIC % of 9.82 is 184.6% 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 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Munish Forge and its competitors. For the Industrial Products industry, the median 3-Year ROIIC % is 3.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Munish Forge's current 3-Year ROIIC % is 9.82, which is 50% below median its own 10-year median of 19.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Munish Forge stock overvalued right now?
Munish Forge (NSE:MUNISH) has a current 3-Year ROIIC % of 9.82. The current 3-Year ROIIC % is 9.82, which is 50% below median its 10-year median of 19.69 and 184.6% above the Industrial Products industry median of 3.45. Munish Forge's overall GF Score™ is 13/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For Munish Forge (NSE:MUNISH), the current 3-Year ROIIC % is 9.82 as of Mar. 2026. 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.
Munish Forge Ltd is a manufacturer in the forging and casting industry, specializing in manufacturing premium forged and cast components. It manufactures components like Flange, Scaffolding, Auto parts, Tank tracks chains, Bomb shells, Fence post and steel accessories as per customer specifications and International Standard catering to the requirements of Indian Army and various industries such as Defence, Oil and Gas, Automobile, Construction and Infrastructure.
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