There is no credible backtest of Joel Greenblatt’s Magic Formula on the Indian Market and I would be more than happy to perform this exercise and share the results on this forum unfortunately I do not have access to historic dataset containing of PE and RoCEs for the listed entities (Ace Equity access is limited to my college’s wifi network which cant be accessed {am a student of MDI Gurgaon and came to know of this forum when Abhishek Bassumalick sir came to give a guest lecture in Prof Bakshi’s class})
If anyone has that dataset and can share it, it would be really helpful in understanding how this strategy performs in the Indian markets.
Thanks!