A very basic question regarding Return on Capital Employed.... using the standard accounting definition of ROCE = EBIT/(Total Assets - Current Liabilities) I tried to compute the ROCE for Asian Paints (consolidated statement) as follows:
EBIT = 2104 (EBT) + 34 (Finance Cost) = 2138
Total Asset - CL = 8912.48 - 3517 = 5395
and therefore RoCE = 2138/5395 = 39.6%
But Screener shows RoCE for Asian Paints as 60% (screenshot attached)
Can any one help me in understanding the difference in computation between my computed figures and that present on Screener, or help identify where I am going wrong....
TIA
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