Its RoCE & Not ROE I was talking about actually, typo error.
“ICRA notes that TEECL’s margins are considerably higher than its peers, which demonstrates strong execution capability, and its strategy to be present in segments which has a minimum threshold
level of design and engineering complexity, leading to less competitive pressures.
TEECL’s business return metrics also
remained healthy, with its core-RoCE
in a range of 20-28% between FY2017 and FY2022.”
- From ICRA ratings report of august 2022
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